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Insurance & Risk Management
6. Chapter 6: Insurance Company Operations/Claims Settlement
6. Chapter 6: Insurance Company Operations Illustration
Syllabus Slides

Claims Settlement

01.Core Concepts

The claim process begins with a notice of loss, typically immediately or as soon as possible after a loss has occurred. Next, the claim is investigated An adjustor must determine that a covered loss has occurred and determine the amount of the loss The adjustor may require a proof of loss before the claim is paid The adjustor decides if the claim should be paid or denied Policy provisions address how disputes may be resolved