An ever – expanding global economy is changing virtually every aspect of the business world. Nowhere is this economic fact of life more manifest than in the insurance claims adjusting industry.
It is not uncommon today to find an insurance policy that was written in Latin America covering an explosion at an Asian – owned plant in Africa, or to find a fire in North America caused by a European manufacturer’s product. The far – reaching range of regulations, customs and other business considerations required to properly settle a multi-national insurance loss is substantial and may vary considerably from nation-to-nation.
Foreseeing these changing business complexities almost a half century ago, a select group of independent loss adjusters from a handful of nations gathered to find a better way to prepare for the future. In 1965, they formed the International Institute of Loss Adjusters, Inc. (IILA) to enhance international understanding, share helpful, pertinent local loss handling expertise and establish good fellowship.
The founders set high membership standards and limited participants to a maximum of 200 senior professionals worldwide. Today, more than 38 nations are represented in the Institute.