What is the primary role of claims adjusters in the insurance industry?

Claims adjusters play a crucial role in the insurance industry by investigating insurance claims and assessing liability. Their primary responsibility involves evaluating the details of a claim, which includes gathering information, interviewing relevant parties, and examining evidence such as police reports and medical documents. This thorough investigation enables them to determine the validity of a claim and the extent of the insurer's liability.

The importance of their role lies in ensuring that claims are handled fairly and accurately, which protects both the interests of the insurance company and the policyholders. By assessing the facts and circumstances surrounding a claim, claims adjusters help decide how much compensation should be awarded to the policyholder if the claim is valid.

The other options do not reflect the principal responsibilities of claims adjusters. The decision-making regarding insurance applications and their terms typically falls under underwriters. Providing estimates for asset values often involves appraisers rather than claims adjusters. Transferring risks among insurance companies relates to reinsurance, which is a different function in the insurance process.