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This is someone who gives a notice to an insurance company for an incurred loss. This is usually done for the main purpose of collecting a claim from the insurance company to cover or reimburse the incurred loss.
The insured will be covered with the claim as based on the terms and conditions of the insurance company.
In most times, the claim may be lost on the event of an incurred loss if the policyholder is no longer an active policyholder of the insurance company.
This is to motivate the policyholder to be regular in paying his premiums as this will be helpful in the event of an incurred loss.
It is reasonable for a claimant to submit a claim for incurred loss coverage as long as he/she is still an active policyholder of the insurance company.
Most often, the insurance companies do not offer claims to the insured or claimant unless on the event of an incurred loss.
The insured will be covered with the claim as based on the terms and conditions of the insurance company.
In most times, the claim may be lost on the event of an incurred loss if the policyholder is no longer an active policyholder of the insurance company.
This is to motivate the policyholder to be regular in paying his premiums as this will be helpful in the event of an incurred loss.
It is reasonable for a claimant to submit a claim for incurred loss coverage as long as he/she is still an active policyholder of the insurance company.
Most often, the insurance companies do not offer claims to the insured or claimant unless on the event of an incurred loss.
Posted in: Glossary of Auto Insurance (C)
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