#Basic
This is a request by a person seeking compensation from an insurer
Claim
The first step in loss adjusting is
Acknowledging a claim
This exists when a person has interest in the property being insured
Insurable Interest
This type of damage is meant to punish defendants for reckless, deceitful or malicious acts
Punitive damages
The cafeteria is located in this building (A, B or C)
Building B
The party that makes a claim is called
the Claimant
This party must be contacted on every claim
The insured!
During one of these, insurers should plan for power loss, transportation interruptions, and material scarcity
Catastrophic claims
Medical expenses and lost wages are considered these type of damages
Special damages
This individual is the CEO of National Interstate Insurance
Tony Mercurio
This individual supports the Claims Manager
Claims Supervisor
This document is needed to verify coverage for a loss
The policy
The process in which an insurer can recover the amount paid from another party
Subrogation
This is the key difference between applicability of coverage on a property loss and a liability claim
Legal responsibility
Counties in Ohio
The claims department relies on this for efficient claim handling
Interdepartmental Cooperation
Determine cause of loss
This cost basis does not consider depreciation
Replacement cost value
These damages to not have a specific economic value
General damages
This company completed the acquisition of NATL in 2016
Great American Insurance (American Financial Group)
The claims function has two goals. Name one of them
Keep the promise to the customers
-and-
Support the profit goal
Reviewing police reports is part of this step in claim handling
Investigating and Documenting the claim
The methods used to determine value of damaged property include actual cash value, replacement cost basis and this
Agreed value
This may still continue even in the event that the case is being heard in court
Negotiation
AFG