Insurance_chapter6

In case of disputes concerning claim payment ,the following personnel is involved.

Loss Assessor is appointed by the insurance company to negotiate the claim.

When a claim request is made by te policy holder,the insurance company wil do the following:
a)Approve the insurance claim.
b)Review the validity of the claim
c)Make payment to the insured based on the terms of the policy.
Predict the correct sequence of the above statements.

The details of the loss given to the insurer should not include details about 'the likely size of the claim'.

Following statements are true regarding a Loss adjuster:
a)Loss adjusters negotiate with the insurance company on behalf of the insured.
b)Loss adjusters are appointed by the insurers,who pay their costs.

If a third party was responsible for the loss,the insurer will settle the claim with the insured and then recover the payments from the 3rd party.This is in accordance with the principle of:

While handling a claim,the insurers will establish the proximate cause and make payment only if the proximate cause was an insured event.

The requirement that the policy holder has to notify the insurance company immediately after the loss occured is usually a policy condition.

The following is a tool for insurers to fight fraud:

The following are incidents of insurance fraud: