Automobile Injury Claims - Study 4

Question 1

The amount it will take in today’s dollars to pay off an accrued benefit or obligation that is due in the future.

Answer 1

Commuted value

Question 2

Confirm facts: Having gained a base of knowledge from the insured, the adjuster meets with the claimant to confirm the facts of the claim.
Request information: At the initial contact with the insured, the adjuster requests information about how the insured was put on notice of the claim and about the scene of the accident.
Mitigate damages: Did the insured immediately secure the site, or mitigate damages at the site of the accident?
Site conditions: What were the site conditions, the weather conditions, contributory factors, or any other circumstances of the physical site that affected or contributed to the accident?
Specific facts: The adjuster must establish the specific facts of the incident.

Answer 2

Accident Benefits