Summarize the steps a claim must go through in order to be processed and payment received.

Solutions

Expert Solution

ANS)

There are 5 steps a claim must go through in order to be processed and payment received.They are,

1) Contact your broker- For getting the claim,firstly an individual must contact his/her insurance policy agent or broker and the broker must understand your condition and start the proceedings.After that an adjuster would begin the proceedings for getting the claim.

2) Claim inspection starts- Just after the claim has registered,it would require to be inspected by an experienced adjuster to decide the cost of damages which is covered by your insurance policy.Any witness can be provided to fast up the procedures.

3) Policy review - After finishing the inspection,the adjuster may go through the policy vigilantly to decide what is or what is not covered in the policy and tell you about the applicable deductibles which might bear to your case.

4) Injury/damage assesment is performed - For correctly assessing the range of damage,the adjuster hire other officers for further checking and finishing the evaluation.

5) Setting up the payment - After all the damages has been resolved,the adjuster will communicate with you about the settlement of your claim or the payment.The time for getting the payment will rely on the complication and seriousness of the condition.

THANKS!!!

Nightingale answered 1 year ago

Next > < Previous

Related Solutions

Problem 3(a) The average part produced in a certain batch manufacturing plant must be processed through...

Problem 3(a) The average part produced in a certain batch manufacturing plant must be processed through an average of six processes. Twenty (20) new batches of parts are launched each week. Average operation time = 6 min, average setup time = 5hr, average batch size = 25 parts, and average non-operation time per batch = 10hr/ machine. There are 18 machines in the plant. The plant operates an average of 70 production hours per week. The Scrap rate is negligible....

List the conditions that must be met in order to claim a dependency exemption for qualifying...

List the conditions that must be met in order to claim a dependency exemption for qualifying children and qualifying relatives. Briefly explain each one. Choose one income type and describe in detail what types of income are included in that group. Have you had experience being taxed for this type of inocome? Two broad categories of taxing authorites and sources of tax law. Explain in detail one example from the Primary category. Be sure to explain the process by which...

In order to establish a claim for negligence, the plaintiff must prove that: Multiple Choice The...

In order to establish a claim for negligence, the plaintiff must prove that: Multiple Choice The defendant was either comparatively or contributorily negligent. The plaintiff was contributorily negligent. The plaintiff sustained nominal damages. The plaintiff acted as a reasonable person under the situation.

Yummy food received an advance payment of OMR 1,000 for the order to be delivered after...

Yummy food received an advance payment of OMR 1,000 for the order to be delivered after two months. Write a short note on unearned income/ income received in advance with a literature review and by providing examples.?

With regards to Pompe disease discuss the steps an accredited laboratory will go through to reach...

With regards to Pompe disease discuss the steps an accredited laboratory will go through to reach a definitive diagnosis. In your answer you should consider how the laboratory maintains the quality of their service.

Draft the steps an accountant might go through in making the decision of whether and how...

Draft the steps an accountant might go through in making the decision of whether and how to be a 'whistleblower' regarding a perceived unethical practice of his or her employer, which is a reputable accounting firm. (Chapter Name: Organizational Ethics and Corporate Governance)

Draft the steps an accountant might go through in making the decision of whether and how...

1. What are the three steps the adjuster must take upon receipt of a new claim?...

1. What are the three steps the adjuster must take upon receipt of a new claim? a. b. c. 2. Define the following methods used to determine the value of a property loss: a. Replacement cost b. Actual cash value c. Agreed value d. Functional replacement cost (use outside sources for this, many examples are online) 3. What is a bad faith claim?(a) Explain the consequences faced by an insurance company if they are accused of acting in bad faith....

26.a. What must a plaintiff prove to succeed in a defendant's negligence claim? A) In order...

26.a. What must a plaintiff prove to succeed in a defendant's negligence claim? A) In order to succeed in an action based on the negligence of the defendant, the plaintiff must prove the following: 1. The defendant has failed in his obligation of confidentiality; 2. The conduct of the defendant has caused damage and / or economic loss; 3. There is a causal link between the damage suffered and the fault of the defendant. B) To succeed in a defendant's...

List the conditions that must be met in order to claim qualifying children and qualifying relatives...

List the conditions that must be met in order to claim qualifying children and qualifying relatives as dependents. Briefly explain each one. Select the requirements applicable to all dependents (qualifying children and qualifying relatives). (Select all the applicable answers.) All dependents: A. must have social security numbers reported on the taxpayer's return. B. must have gross income less than the amount of the standard deduction. C. cannot normally file a joint return. D. must live with the taxpayer for more...

Subjects