Loss Adjustment Report

A Loss Adjustment Report is a core document in insurance claims, issued by the insurer or its appointed adjuster after investigating, inspecting, and assessing the cause, extent, amount of loss, and liability attribution when cargo suffers a loss within the scope of insurance coverage. In foreign trade, it is commonly used in marine, air, or land cargo insurance claims, especially involving general average, particular average, shortage, or damage. Notes: The report must be issued by a qualified adjuster and should include the incident description, inspection methods, basis for loss assessment, adjustment results, and liability allocation; the insured should retain original documents (e.g., bill of lading, invoice, packing list, survey report) for verification. It differs from a Survey Report, which focuses on factual records and cause analysis, while the Loss Adjustment Report focuses more on determining the loss amount and payment recommendations; it also differs from a Claim Statement, which is a loss breakdown prepared by the claimant, whereas the adjustment report is an authoritative loss assessment document issued by a third party or the insurer.