Insurance Claims Handling Basics FINAL EXAM (CT 109890) Questions and Answers | Latest Update | 2024/2025 | Graded A+
1 view 0 purchase
Course
Insurance Claims Handling Basics
Institution
Insurance Claims Handling Basics
Insurance Claims Handling Basics
FINAL EXAM (CT 109890) Questions and
Answers | Latest Update | 2024/2025 |
Graded A+
What is the first step in the insurance claims handling process?
The first step is to acknowledge receipt of the claim and gather basic information from the
claimant.
...
Insurance Claims Handling Basics
FINAL EXAM (CT 109890) Questions and
Answers | Latest Update | 2024/2025 |
Graded A+
What is the first step in the insurance claims handling process?
✔✔ The first step is to acknowledge receipt of the claim and gather basic information from the
claimant.
Why is it important to verify policy coverage when handling a claim?
✔✔ Verifying policy coverage ensures that the claim is valid and the incident is covered under
the terms of the insurance policy.
What is the role of the claims adjuster in the claims process?
✔✔ The claims adjuster investigates the claim, assesses damages, and determines the amount of
compensation to be paid based on policy coverage.
How should communication be handled with a claimant?
✔✔ Communication with the claimant should be clear, prompt, and professional, ensuring they
are informed of the process and any required documentation.
1
, What is the purpose of a claim investigation?
✔✔ A claim investigation verifies the facts of the loss, evaluates the extent of the damage, and
determines the legitimacy of the claim.
Why is documentation important in claims handling?
✔✔ Documentation provides a clear record of the claim process, supports decisions made, and
ensures transparency in case of disputes.
What should be done if a claim is suspected to be fraudulent?
✔✔ If fraud is suspected, the adjuster should gather evidence, report it to the appropriate
authorities, and follow company procedures for investigating potential fraud.
What factors are considered when determining claim compensation?
✔✔ Compensation is determined based on the policy limits, the type of coverage, the extent of
the damage, and any deductibles that apply.
How should a claim denial be communicated to the claimant?
2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller SterlingScores. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.98. You're not tied to anything after your purchase.
