AIC 300 Part 1 Exam Questions With Revised Answers.
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Course
Aic 300
Institution
Aic 300
AIC 300 Part 1 Exam Questions With
Revised Answers.
A role defined by being an employee or an insurer and having a primary focus on handling
claims - answerStaff claims representative
Employees used when specialized skills are needed and when staff claim representatives are too
busy to handle ...
AIC 300 Part 1 Exam Questions With
Revised Answers.
A role defined by being an employee or an insurer and having a primary focus on handling
claims - answer✔✔Staff claims representative
Employees used when specialized skills are needed and when staff claim representatives are too
busy to handle all claims themselves. - answer✔✔Independent adjusters
Contractors who handle claims, keep claim records, and perform statistical analyses and are
often associated with large independent adjusting firms or with subsidiaries of insurers. -
answer✔✔Third party administrator (TPA)
Agents, brokers, sales representatives, and intermediaries who place insurance with insurers. -
answer✔✔Producer
A representative often hired by the insured to protect their interests if a claim is complex or if
settlement negotiations are not progressing with the insurer. - answer✔✔Public adjuster
Representatives who evaluate new submissions and perform renewal underwriting, usually by
working directly with insurance producers and applicants - answer✔✔Line underwriters
Representatives who manage risk selection by working with line underwriters and coordinating
decisions about products, pricing, and guidelines. - answer✔✔Staff underwriters
Representatives who collaborate with claims representatives to ensure fast, accurate
communication of claims related information. - answer✔✔Customer service representatives
Employees who insurers hire when needed to evaluate the cause or value of a loss, investigate
the possibility of fraud by an insured or a third-party claimant, or provide legal advice. -
answer✔✔Experts
If the decision is negative, good-faith claims handling requires the claims rep to
__________________________________________. - answer✔✔explain the rationale behind it.
Claims representatives could quickly reduce LAE in the short term by
___________________________________ rather than spending resources on investigating
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