Valuation Of Loss
Method of setting a dollar value on loss suffered by an insured. In some cases, a loss is straightforward, such as the cost of gallbladder surgery. But with burglary of a home or a traffic accident that damages a car, the amount of loss is open to interpretation. In many cases, the insured needs receipts, appraisal documents, or other evidence of value. In other cases, a claim adjuster values the loss and determines how much the insurer will pay.
Popular Insurance Terms
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Term referring to the most common charge, in health insurance, for a service. ...
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Unfunded trust that acts as the owner of a life insurance policy. The trust receives a donor's cash payments on a periodic basis, from which the beneficiary of the trust has a specified ...
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