All the glossaryGlossary

Claims & settlement

What happens after the loss: notification, loss adjustment, case reserving, settlement pace, recovery and subrogation.

35 terms
Actual cash valueAppraisal by a third expertAverage clause for underinsuranceCapitalization table for future lossesCase reserveClaims payment patternCourt-ordered expertiseDelegated claims handlingDepreciation for wear and tearDintilhac schedule of heads of damageDischarge receiptEuropean accident statementFixed allowance for incidental lossesForfeiture of coverIncreased cost of workingIncurred but not enough reportedIndemnity periodInsurable gross profitIRSI agreement between French insurersLoss adjustmentNotice of claimProportional rule of premiumRecoveries receivableReplacement cost coverReserve run-off resultSalvage valueSecond loss assessmentSeries claimSettlement agreementSettlement deadlineSuspension of cover for non-paymentThird party recoveryTwo year time bar in insuranceVictim's direct action against the liability insurerWaiver of subrogation
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