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Insurance adjustment, the settlement of an insurance claim; the determination for the purposes of a settlement of the amount of a claim, particularly a claim against an insurance company, giving consideration to objections made by the debtor or insurance company, as well as the allegations of the claimant in support of his claim. [5]
In a lawsuit that is not direct-action, a plaintiff brings the claim against the insured, who actually wronged the plaintiff. Once judgment has been rendered against the defendant, there are a number of ways that the insurance company (assuming the defendant is insured) might later be made to pay the victorious plaintiff.
The process varies from provider to provider, but how you file a car insurance claim usually begins with a phone call, filling out an online form or using your insurance company’s app to begin ...
The typical structured settlement arises and is structured as follows: An injured party (the claimant) comes to a negotiated settlement of a tort suit with the defendant (or its insurance carrier) pursuant to a settlement agreement that provides as consideration, in exchange for the claimant's securing the dismissal of the lawsuit, an agreement by the defendant (or, more commonly, its insurer ...
Your insurance company might refer to an insurance adjuster as a claims adjuster, but they are the same role. The adjuster investigates your coverage and insurance claim after an accident ...
Understanding the claim denial letter and why an auto insurance company decided not to make a payout is the first step in determining the validity of a denied car insurance claim. Most instances ...
The contract is based upon the bargain that a party forgoes its ability to sue (if it has not sued already), or to continue with the claim (if the plaintiff has sued), in return for the certainty written into the settlement. The courts will enforce the settlement. If it is breached, the party in default could be sued for breach of that contract.
In law, the duty to settle is an insurer's implied obligation to accept a settlement in a case against one of its insured parties if it is likely that a potential judgement against the insured will exceed policy limits. If a liability insurer exposes the insured to excess risk by failing to settle within policy limits, they may be liable for ...