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CLAIMS (Types of Claims ((Agent: An insurance agent often has authority…
CLAIMS
Clims is Legal demand or assertion by a claimant for compensation, payment, or reimbursement for a loss under a contract, or an injury due to negligence.
Types of Claims
Agent: An insurance agent often has authority to settle small first-party claims up to some maximum limit.
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Independent adjustor: An independent adjustor is an organization or individual that adjusts claims for a fee.
Public adjustor: A public adjustor represents the insured rather than the insurance company and is paid a fee based on the amount of the claim settlement.
Steps of a Claim
Notice of loss must be given: A typical provision requires the insured to give notice immediately or as soon as possible after the loss has occurred.
The claim is investigated: An adjustor must determine that a covered loss has occurred and must also determine the amount of the loss.
A proof of loss may be required: A proof of loss is a sworn statement by the insured that substantiates the loss.
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How to make a claim.
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In the letter clearly write your name, address and the number of your ballot if necessary.
Describe your purchase with the product name, model, serial numbers, date and place where you purchased it.
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It is advisable that your claim be written on a computer or typewriter. Otherwise, write in print and legible.
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UNIVERSIDAD INTERNACIONAL DEL ECUADOR
NAME: ALEXIS AGREDA
DATE: 17/01/2020
TEACHER: ING. JANELA ROMERO
SUBJECT: INTERNATIONAL INSURANCE
BIBLIOGRAPHY:
Rejd, G., & McNamara, M. (2014). P RINCIPLES OF RISK MANAGEMENT AND INSURANCE . New Jersey : Pearson Education.