Who is responsible for investigating a loss and determining the liability of the insurance company?

The responsibility for investigating a loss and determining the liability of the insurance company falls to the loss adjuster. This role involves assessing the circumstances surrounding a claim, gathering necessary evidence, and evaluating the extent of the insurer's liability based on the findings. Loss adjusters often work closely with claimants, witnesses, and experts to ensure that all relevant information is considered. Their primary objective is to ensure that claims are handled fairly and in accordance with the policy terms, which is crucial for both the insurer and the insured.

In contrast, while an underwriter assesses risk for approving insurance coverage, and a claims specialist may handle the claims process itself, neither is primarily responsible for investigating the specifics of a loss in the way that a loss adjuster is. Additionally, a premium auditor focuses on verifying an insured's premiums and ensuring that they are appropriately calculated based on the insured’s actual exposure, rather than investigating losses.