Claim

Posted by: Donnell Insurance | Posted on: April 4th, 2012 | 0 Comments

The exercising of a policyholder’s right under a policy to be paid by his or her insurance company for certain financial losses suffered. A claim can be any notification of a possible loss under an insurance policy, whether or not any payment follows. For every claim that is reported, the insurance company must set aside money (“reserves”) sufficient to cover its anticipated cost.




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