These are internal procedures of the insurance entity, but a description of them allows us to understand this part of the insurance activity.
Reception of the declaration
The processing of the claim begins with the statement made by the insured once it occurs. Normally, this is the first news that the insurance company has and, therefore, it is essential that this statement provides complete information on the causes and consequences that derive from said loss.
Opening of the file
After knowing the incident, the insurer “opens a file” to which all the information and data obtained in the processing are subsequently incorporated.
Initial valuation of the claim
At the same time, the file is opened, the insurer of the insurance company makes a first assessment of its cost.
With the first checks, the insurer intends to know if it should continue until the end of the claim management or terminate the process. The insured may adopt any of these three decisions:
The loss is not covered: the refusal is reported.
It is a clear situation of insurance coverage. Proceed to indemnify the insured and close the file.
If the case presents complexities, it must continue with the processing of the incident.
The expert is a professional expert in the field to whom the insurer entrusts the task of assessing the consequences of the accident and analyzing its possible causes. The decision of the insurer about the acceptance or not of the loss depends to a large extent on the report that you make. The personal injury attorney pittsburgh supports there.
Resolution of the procedure
Once all the inquiries have been made, the cost of the accident has been assessed and the compensation estimated (if applicable), the insurer will adopt one of the following decisions:
Pay the corresponding compensation or benefit
Pay the indemnity and cancel the insurance contract when it expires. It is a legal possibility and, therefore, can be applied to all policies. In some cases the contract is terminated by decision of the insurer and in others because the insured object ceases to exist and, therefore, the risk disappears (for example, in travel assistance insurance when the trip ends). The personal injury lawyer pittsburgh pa helps you now.
When To Accept An Offer Motivated By A Traffic Accident
In case of traffic accident injuries, it is important to know when to accept an offer motivated by the insurance or go to trial to collect more. It is important to assess many factors before making the relevant choice. Today we give you a series of tips on how you should act.
Once the insurance company responsible for the traffic accident has examined the injured by means of its medical services, it is bound by the provisions of article 7 of the Law on civil liability and insurance in the circulation of motor vehicles to make available to the victim in writing a sum of money as compensation. Such indemnification offered must be broken down by the insurance, in such a way that the injured party knows for what concepts it is intended to indemnify and can decide whether or not it agrees with the resulting amount.