Insurance Operation Chapter 6 Problems

1. Describe the primary goals of the claim function.

2. Differentiate between a first-party claim and a third-party claim.

3. Describe the marketing department's need for claim information.

4. Identify the two types of performance measures used to evaluate a claims department's performance.

5. Identify three purposes of claims guidelines.

6. Identify two reasons why insurance regulators monitor the business of insurers.

7. When reviewing coverages, if it is apparent from the loss notice that coverage may not be available for the loss, the claim representative should notify the insured of this concern with one of two documents that also preserve the insurer's rights. Identify these two documents.

8. Identify the only circumstance under which specified causes of loss coverage covers a loss.

9. List three crucial components of claim documentation.

10. Describe the coverage provided by special form coverage.

Text Book: "Entitles Insurance Operations 2nd edition".