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13 Cards in this Set
- Front
- Back
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What makes contractual liability different from tort liability?
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In c.l. they voluntarily assume liability
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whats the basic rules of claim investigation?
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Investigate, evaluate, negotiate,settle, close
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Some companies refer to the claims reports as?
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Captioned reports
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Which report will give details of the claim and when do most companies require it?
what comes after? and then what report do you? |
First field(initial)/30-45 days
Interim(status)/30-90 days Full final/summary from beg-end. |
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Property losses can be categorized in what 3 classes?
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real/personal/rights of use
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When real property is encumbered, the lender's interest is protected how?
What about the property? |
By a Mortgage Clause
Loss Payable Clause |
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When's a proof of loss usually repaired?
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within 60 days
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If you have insurable interest in property what 4 things will insurers consider?
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O.Sh.T.L
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What 3 cases will my claims fall into?
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Clear, doubtful, or no LIABILITY
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what are the 2 types of witnesses
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Ordianary & expert
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If the insurer wants the courts to decide he might not use ______ or _____ but he'll use a _______.When might they use this.
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reservation of rights letter/nonwaiver agreement.
declaratory judgement action. if they're being threatened with a lawsuit. |
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what's cutting the check?
what's the dollar amt. known as? you have them do what to make sure they don't sue?(what are the 4 types) |
advance payment
draft authority release full release scheduled payment PD/BI pending payment No release/walk away |
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What are the 3 cases of subrogation?
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against insured/btw insurers/against 3rd party
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