What is the term for the initial estimate of a claim's value provided by an adjuster?

The initial estimate of a claim's value provided by an adjuster is called a loss estimate. This term encompasses the adjuster’s assessment regarding the monetary extent of a loss that has occurred, which is crucial for determining how much the insurance company may need to pay to settle the claim. A loss estimate typically includes detailed evaluations of damages, costs necessary for repairs or replacements, and may also consider any relevant loss of income due to the incident.

In the context of claims handling, a loss estimate helps set the stage for further negotiations and discussions surrounding the claim's resolution. It serves as a foundational document that informs both the insurer and the insured about the expected financial implications of the claim.

Other terms such as claim value, claim assessment, and financial review do not specifically capture the essence of the initial valuation process as directly and accurately as loss estimate does, making it the most appropriate choice in this scenario.