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  • INS 21 - Basics of Claims

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    Thirunavukkarasu Anandan
    190 Ansichten9 Seiten
    This document provides a brief overview of claims in insurance. It defines a claim as a demand for monetary compensation for a loss. It describes the responsibilities of a claim representative as responding properly to claims, obtaining adequate information, properly evaluating claims, and treating all parties fairly. It also outlines the types of claim representatives, describes the claim handling process depending on the line of business, discusses establishing loss reserves, and notes some aspects of unfair claim practices laws.

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    INS21

    Originaltitel

    INS 21- Basics of Claims

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    This document provides a brief overview of claims in insurance. It defines a claim as a demand for monetary compensation for a loss. It describes the responsibilities of a claim representative as responding properly to claims, obtaining adequate information, properly evaluating claims, and treating all parties fairly. It also outlines the types of claim representatives, describes the claim handling process depending on the line of business, discusses establishing loss reserves, and notes some aspects of unfair claim practices laws.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Als PPT, PDF, TXT herunterladen oder online auf Scribd lesen
    Markieren Sie unangemessene Inhalte
    190 Ansichten9 Seiten

    INS 21 - Basics of Claims

    Hochgeladen von

    Thirunavukkarasu Anandan
    This document provides a brief overview of claims in insurance. It defines a claim as a demand for monetary compensation for a loss. It describes the responsibilities of a claim representative as responding properly to claims, obtaining adequate information, properly evaluating claims, and treating all parties fairly. It also outlines the types of claim representatives, describes the claim handling process depending on the line of business, discusses establishing loss reserves, and notes some aspects of unfair claim practices laws.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Als PPT, PDF, TXT herunterladen oder online auf Scribd lesen
    Markieren Sie unangemessene Inhalte
    von 9

    Basic overview of Claims in INS 21

    CSC Proprietary 6/24/2013 7:42:18 AM 008_fmt_wht

    Objective of this presentation


    To provide a brief knowledge of :- What is a Claim - Responsibilities of the claim representative - Types of claims representative - Claim handling process - Loss Reserves - Regulatory laws

    Rahul Verma

    Claim
    Demand for monetary compensation for a loss Claimant anyone who submits a claim Parties
    Insurer (1st party) Insured (2nd party) Third party (3rd party)

    Rahul Verma

    Responsibilities of the claim Rep.


    Respond properly to the submitted claims Obtain adequate info
    Reservation of right letter

    Properly evaluate the claim

    Treat all parties fairly

    Rahul Verma

    Types of claim Rep


    Staff claim rep - Inside - Outside Independent adjusters Agents Public adjusters Internal claim administration TPAs

    Rahul Verma

    Claim handling process


    Depends on the LOB Property Insurance claims Liability Insurance Claims

    Rahul Verma

    Establishing Loss reserves


    IBNR Reported but not yet settled

    Rahul Verma

    Unfair Claim Practices law


    Misrepresentation of policy facts Failure in prompt action Unreasonable enquiries

    Rahul Verma

    CSC Proprietary 6/24/2013 7:42:19 AM 008_fmt_wht Rahul Verma 9

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