Settling the claim

Question 1

responding to a claim as an adjuster

Answer 1

1. accept & pay claim
   2.reject & deny claim
   3.negotiate settlement
   4.use an alternative dispute method

Question 2

dispute resolutions

Answer 2

arbitration,mediation, appraisal, declaratory judgment, court

Question 3

arbitration

Answer 3

a third party is hired to look at evidence from both parties and comes to a decision

Question 4

mediation

Answer 4

just advises and helps parties figure things out amgont themselves

Question 5

appraisal

Answer 5

each party chooses their own appraiser then they will come up to a conlusion and if they don’t it goes to an umpire

Question 6

declatory judgement

Answer 6

court declares legal rights of both parties and then the parties get a clear answer

Question 7

litigation

Answer 7

courts decides

Question 8

settlement

Answer 8

when 2 parties in a dispute reach an agreement

Question 9

full release settlement

Answer 9

gives a check to claimant and claimant signs form to realese the insurer from any additional charges connected d

Question 10

scheduled payment release

Answer 10

insurer pays for all ongoing damages until claim is settled

Question 11

partial release

Answer 11

pays property damage upfront and waits to pay bodily injury damages until given proof

Question 12

advance payment

Answer 12

gives some money here and there if damages are majorly severe until final amount is determined and that money will be subtracted

Question 13

no release settlement

Answer 13

signing the check means they are no longer tied to insurer for that claim

Question 14

structured settlement

Answer 14

for large claims insurer makes payments and pays a large amount upfront