4. Validation Flashcards
1
Q
What are the 4 elements of claims validation?
A
- Validation for cause of loss or damage.
- Validation that item claimed for existed.
- Validation that item said to be lost or damaged actually is.
- Validation of monetary value for item
2
Q
Claim is only covered by policy if the cause or damage is what?
A
One of the perils listed in the policy
3
Q
How could you determine if the storm peril should be applied to damage to a flat felt roof?
A
- Obtain weather reports and review dates few days before and after DOL.
- Reports from someone who has inspected the roof eg LA.
- Estimates for repair of roof can establish cause
4
Q
How can you validate that an item existed?
A
- Photographs
- Inspection of damage items
- Receipts
- Instruction manuals
5
Q
How can you validate that an item has been damaged?
A
- Photographs
- Receipts
6
Q
How can you validate a stolen item?
A
- PH describes circs to LA, discrepancies may show that item wasn’t stolen.
- Photos
- Receipts
- Police report & crime ref numbers
7
Q
How do you validate the value of an affected item?
A
- Good understand of the item
- Use sources such as internet and specialist parties
