A claim is what occurs when someone has suffered personal injury or property damage, or other covered losses.
Posted: Thu Jun 09, 2011 10:10 am Post Subject:
A claim is perhaps a request for compensation that's being forwarded to an insurer following a loss. Such a request is forwarded by the policy holder (or beneficiary in case of life insurance).
Posted: Fri Jun 10, 2011 01:10 pm Post Subject:
A claim is basically a formal request made to the insurance company demanding or requesting for the payment as per your insurance policy. The insurance companies first review the claim for their validity and then pay the amount to the insured once approved.
Remember, however, that "claim" doesn't always involve insurance.
It is simply the result of a loss due to personal injury (such as libel or slander -- a "tort" claim), property damage (as in a toaster that fails to brown the toast -- a "warranty" claim), or some other legal "claim" (such as unpaid rent in a landlord's "unlawful detainer" claim).
Some of these losses are insurable, others are not. The OP's question was generic, as was my original answer.
Posted: Wed Jun 08, 2011 10:58 pm Post Subject:
A claim is what occurs when someone has suffered personal injury or property damage, or other covered losses.
Posted: Thu Jun 09, 2011 10:10 am Post Subject:
A claim is perhaps a request for compensation that's being forwarded to an insurer following a loss. Such a request is forwarded by the policy holder (or beneficiary in case of life insurance).
Posted: Fri Jun 10, 2011 01:10 pm Post Subject:
A claim is basically a formal request made to the insurance company demanding or requesting for the payment as per your insurance policy. The insurance companies first review the claim for their validity and then pay the amount to the insured once approved.
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Loss Assessors
Posted: Fri Jun 10, 2011 03:42 pm Post Subject:
Remember, however, that "claim" doesn't always involve insurance.
It is simply the result of a loss due to personal injury (such as libel or slander -- a "tort" claim), property damage (as in a toaster that fails to brown the toast -- a "warranty" claim), or some other legal "claim" (such as unpaid rent in a landlord's "unlawful detainer" claim).
Some of these losses are insurable, others are not. The OP's question was generic, as was my original answer.
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