Welcome to The Spencer Company – average adjusters and marine insurance consultants

The Spencer Company is a leading, independent average adjuster, in operation since 1998. We take pride in the speed of our response, the accuracy of our work, the reasonableness of our fees and the professional standards we uphold.

“Average” is believed to derive from an old Arabic word, “awar”, meaning “damage”. For centuries, average was a mechanism for dividing the risk inherent to a maritime adventure, with each merchant sharing in proportion to the profit, in the case of success, or in proportion to the value of what was saved, if the ship and goods had fallen into peril. That mathematical operation, of dividing things proportionately, led to the more common, modern understanding of the word.

Average adjusting as a mercantile expertise emerged in the middle of the nineteenth century. The UK-based Association of Average Adjusters was founded in 1872. The Association of Average Adjusters of the United States dates from 1879 and, in 2011, merged with the younger, Canadian association to become The Association of Average Adjusters of the United States and Canada. The professional associations promote uniformity of practice among average adjusters and maintain a rigorous system of examinations to ensure the highest standards among their members. Because the profession remains self-regulated, be sure to verify an individual’s professional qualifications when selecting an average adjuster.

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