All of the following statements about claims settlement are true EXCEPT
A) Agents may have the authority to settle claims.
B) Independent adjustors may be used in a geographic area where the volume of business is too low for an insurer to have its own adjustors.
C) Company adjustors are salaried employees who work for one insurer.
D) A public adjustor is usually paid a flat fee regardless of the size of a claim.
Correct Answer:
Verified
Q3: All of the following are reasons for
Q3: Insurers obtain data which can be used
Q4: The function of an actuary is to
A)adjust
Q4: Which of the following statements about claim
Q12: Which of the following statements about adjustment
Q16: Which of the following statements about treaty
Q21: Ross studied engineering in college.After graduation,he went
Q22: Delta Insurance Company has a surplus-share treaty
Q35: New Liability Insurance Company began operations last
Q39: Which of the following statements is (are)
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