Podcast
Questions and Answers
What is the primary purpose of negotiating with product or service providers on time for cost of repairs?
What is the primary purpose of negotiating with product or service providers on time for cost of repairs?
- To make an offer of settlement to the insured (correct)
- To determine the apportionment of loss among multiple policies
- To verify the existence of other policies
- To ensure the policyholder has an insurable interest
What is the role of the risk engineer in the insurance industry?
What is the role of the risk engineer in the insurance industry?
- The eyes of the underwriter
- The arm of the claims expert
- The arm of the underwriter
- The eyes of the insurer (correct)
What is a primary function of a loss adjuster in relation to the insurance policy?
What is a primary function of a loss adjuster in relation to the insurance policy?
- Determining the premium rates for the insured
- Providing investment advice to the insured
- Checking whether the insurance company is liable under the insurance policy (correct)
- Issuing insurance certificates to the policyholders
What is a key aspect of a loss adjuster's report to the insurers?
What is a key aspect of a loss adjuster's report to the insurers?
What is the primary purpose of reinsurance in the insurance industry?
What is the primary purpose of reinsurance in the insurance industry?
What is the term for the insurance company that takes out reinsurance coverage?
What is the term for the insurance company that takes out reinsurance coverage?
In the context of a loss claim, what is a key objective of a loss adjuster during negotiations?
In the context of a loss claim, what is a key objective of a loss adjuster during negotiations?
What is an essential skill for a loss adjuster during the claim investigation process?
What is an essential skill for a loss adjuster during the claim investigation process?
What is the purpose of checking for other policies that may be brought into the apportionment of loss?
What is the purpose of checking for other policies that may be brought into the apportionment of loss?
During a loss assessment, what might a loss adjuster investigate to determine liability?
During a loss assessment, what might a loss adjuster investigate to determine liability?
What is the term for the process of passing on a portion of the risk to another insurer?
What is the term for the process of passing on a portion of the risk to another insurer?
What service might a loss adjuster offer to policyholders?
What service might a loss adjuster offer to policyholders?
What skill is likely to be required in larger claims?
What skill is likely to be required in larger claims?
What is the purpose of checking for fraud indicators in the claim process?
What is the purpose of checking for fraud indicators in the claim process?
What is the primary role of a Loss Adjuster?
What is the primary role of a Loss Adjuster?
What is subrogation in the context of claims?
What is subrogation in the context of claims?
What is the importance of a multi-disciplinary approach in claims handling?
What is the importance of a multi-disciplinary approach in claims handling?
What is the final step in the claim process?
What is the final step in the claim process?
Flashcards are hidden until you start studying
