0
A claim is a liability on part of the insurance company. If a customer makes a claim it means that the insurance company has to pay the customer for the amount is eligible to claim and hence it is a expenditure on the balance sheets of the insurance company.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Defense costs inside the aggregate limit?
The insurance company will pay for the cost of defending a claim made against the insured. The cost of the lawyers will be paid for on top of whatever limit of insurance the insured has paid for. ie if the insured bought cover of £1m and he was sued for £1m then the insurance company will pay up to £1m and in addition to this the insurer will also pay the cost for all the lawyers who tried to defend the claim.
What is the essentialia of a contract between client and insurance company?
The most essential part of an insurance contract is that it is basically a contract of utmost good faith. The proposer will not conceal any vital information, which will be detrimental at the time of deciding any claim by the insurer.
Why are weather forecasts important to insurance company?
Weather forecast is specially important in Crop Insurance, where a drought or flood can drain out huge fund from the Insurance Company's corpus.Getting in before hand, help them to set their strategy accordingly. In India, the Al Nino effect on Moonsoon, has already put the Insurers into great anxiety,apart from the farmers, or Agricultural Ministry.
The concept of repricing life insurance policy?
Re-pricing focuses on the rate revision, there is no change in existing benefit structure of the product. The rate revision is necessitated due to several reasons. Some of the reasons are as follows ü When the insurance company feels that the product is not sold as expected then the insurance company will revise the rate to sell the product. ü When the insurance company feels that the product does not give profit as expected then the insurance company will revise the rate to earn profit. ü When the insurance company feels that the product has more demand then the insurance company will revise the rate to meet the demand. ü When the insurance regulatory authority asks the insurance company to revise the premium then the insurance company will reduce the rate.
Why would one choose Swinton Insurance Company over another company?
A consumer may choose Swinton Insurance Company over another company based on more inexpensive rates that are quoted and also the extent of insurance coverages offered.
What if the delay in filing an insurance claim is the fault of the insurance company?
That's not very likely. The insurance company does not file your claim, they accept your claim notice from you. You have to file your claim with the company, not the other way around.
Can I be sued for a bad faith insurance claim?
Usually in a bad faith insurance claim the insurance company is in the wrong. A bad faith claim is when an insurance company fails to pay out what was promised on the claim. More than likely you could sue the insurance company and have a chance at winning your case.
How do I claim my insurance from Aetna Insurance Company?
rue
If the other persons car is damaged do you have to file a claim?
No, they will file a claim with their insurance company and their company will talk to your company. Assuming you swapped insurance details.
Can a claim be made against a person's insurance without their permission?
Anytime you make a claim with your own insurance company against someone else's company or their company directly, the company taking the claim by law has to fully verify and investigate the claim being made. Not only that, no insurance company in their right mind would pay out insurance claims without checking them out first.
Can you sue at fault driver in California who has insurance if his insurance company refuses to pay your claim for medical expenses or do you have to sue his insurance company?
yes. you can sue an at fault driver if his insurance company refuses to pay your claim. it would not be proper to sue the insurance company.
How can I claim my insurance if your car dies?
Call the insurance company.
How long does a insurance company have to evaluate a claim?
life insurance
How long do you have to file car insurance claim in Kentucky?
You have 10 days to file a claim with your insurance company.
Who benefits from a mortgage insurance claim?
The real beneficiary from a mortgage insurance claim is ultimately the insurance company that provided you with the mortgage insurance in the first place.
If my insurance company deducts my deductible from a homeowners claim do i still pay the deductible?
Yes. The insurance company will pay their portion of the claim which does not include the deductible because that is your portion .
Can homeowners insurance specifically Travelers drop you in middle of claim and where can you get insurance if you have an open claim?
An insurance company cannot drop you in the middle of a claim. The state department of insurance sets standards for how long it takes for the insurance company to respond to a claim, and to issue payment once damage is verified. If they have stopped contact with you and have not given you a reason I would contact your state department of insurance and file a complaint.
