Claim Investigation
Claim investigation is the process of gathering information and evidence to determine the validity of a claim, the extent of the insurer’s liability, and the appropriate amount of compensation to be paid.
Insurance Glossary
Glossary/Encyclopedia of insurance terms. In addition to the brief description of insurance terms, we have also provided detailed explanation of each term. By selecting ‘More Details’ in each term, you can view the detailed explanation of the term with examples.
Claim Reserve
An estimate of the amount of money an insurance company will need to pay for a claim that has been reported but not yet settled.
Claimant
In insurance, a claimant is a person or entity who files a claim with an insurance company for compensation for a covered loss or event.
Coinsurance
Coinsurance has got different perspectives based on the type of insurance, even though this term is commonly used in health insurance in USA.
Conditions
In insurance policies, conditions refer to the section that outlines the rights and responsibilities of both the policyholder (insured) and the insurance company (insurer).
Cost of Insurance
The total cost incurred by an insurance company to provide and maintain insurance coverage, including claims payments, operating expenses, and the cost of capital.
Direct Writer
A direct writer is an insurance company that sells its policies directly to customers, without the use of independent agents or brokers.