Claims settlement definition

Claims settlement means an agreement between an insurer and claimant as to the amount of money owed to the claimant on a particular claim.

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Claims settlement. The maximum amount We will pay in respect of loss or damage to the Insured Vehicle shall be the Market Value of the Insured Vehicle immediately prior to the time of such loss or damage or Your last declared estimate of value of the Insured Vehicle (where appropriate) whichever is the lower amount. If to Our knowledge the Insured Vehicle is the subject of a leasing or contract hire agreement such payment shall be made to the owner described therein whose receipt shall be a full and final discharge to Us in respect of such loss or damage. If to our knowledge the vehicle is the subject of a Hire Purchase agreement we shall • settle any outstanding amount owed under the Hire Purchase agreement • return any residual amount to the policyholder other than where there is separate insurance in force which affords this protection to the policyholder. Replacement Parts: We may at our option fit replacement parts which are not supplied by the original manufacturer of the Insured Vehicle but which are of the same standard Excess Clause: We will not be liable for the amount of the Excess shown in the Schedule. Young and inexperienced drivers’ Excess: If the Insured Vehicle is being driven by, or is for the purpose of driving in the care, custody and control of any driver who: • is aged 17 - 21 years of age - additional £1,000 Excess to apply • is aged 22 – 24 years of age – additional £500 Excess to apply • has less than 24 months continuous driving experience under a full licence applicable to the Insured Vehicle being driven or who holds a provisional licence – additional £500 Excess to apply The above amounts are in addition to any other Excess shown in the Schedule. Recovery and Redelivery: If the Insured Vehicle cannot be driven as a result of loss or damage insured under this Policy We will bear the reasonable cost of protection and removal to the nearest competent repairers. We will also pay the reasonable cost of redelivering the Insured Vehicle to You after the repair of such loss or damage to Your chosen address in the United Kingdom. Replacement with New Car: If within 12 months of first registration as new any Private Car which You purchase as new and which You own or which is held by You from new under a hire purchase leasing or contract hire agreement is:

Claims settlement. The maximum amount We will pay in respect of loss or damage to the Insured Vehicle shall be the Market Value of the Insured Vehicle immediately prior to the time of such loss or damage or Your last declared estimate of value of the Insured Vehicle (where appropriate) whichever is the lower amount. If to Our knowledge the Insured Vehicle is the subject of a hire purchase agreement such payment shall be made to the owner described therein whose receipt shall be a full and final discharge to Us in respect of such loss or damage. Replacement Parts: We may at our option fit replacement parts which are not supplied by the original manufacturer of the Insured Vehicle but which are of the same standard Excess Clause: We will not be liable for the amount of the Excess shown in the Schedule. Recovery and Redelivery: If the Insured Vehicle cannot be driven as a result of loss or damage insured under this Policy We will bear the reasonable cost of protection and removal to the nearest competent repairers. We will also pay the reasonable cost of redelivering the Insured Vehicle to You after the repair of such loss or damage to Your chosen address in the United Kingdom. Replacement with New Car: If within 12 months of first registration as new any Private Car which You purchase as new and which You own or which is held by You from new under a hire purchase leasing or contract hire agreement is:

Examples of Claims settlement in a sentence

• Claims settlement decisions of the Insurer that are disputed by the concerned EHCP shall be examined in depth by the CRC after such grievance of the EHCP is forwarded by the concerned Grievance Redressal Committee (GRC) to the CRC.

• The Broker will notify the Department's Contract Manager of any concerns regarding the ability to provide ongoing services, Claims settlement, or any diminished actions including, but not limited to, the reduction in the financial rating of the insurer providing coverage subsequent to contract award.

• Paperless Claims settlement for the hospitals with electronic clearing facility.

• The Broker will notify the Department’s Contract Manager of any concerns regarding the ability to provide ongoing services, Claims settlement or any diminished actions, including but not limited to, the reduction in the financial rating of the insurer providing coverage.

• Claims settlement shall be limited to the non-refundable amounts stipulated above at the time of the cause of cancellation or within 48 hours.

• Claims settlement decisions of the ISA that are disputed by the concerned HCP shall be examined in depth by the CRC after such grievance of the HCP is forwarded by the concerned Grievance Redressal Committee (GRC) to the CRC.

• They have will come from 1/2 of the Settlement Fund remaining after the deductions for remained engaged in representing the Class’s interests during this litigation and payments for valid Out-of-Pocket Loss Claims, settlement administration costs reviewed and approved the terms of the proposed Settlement.

• Claims settlement will be limited to the non-refundable amounts stipulated in Section II at the time of the cause of cancellation or within 48 hours.

• Ten days notice (plus three days if service is made by first class mail) shall be adequate for any Claims settlement.

• Item Account Head Unit to be used for allocation of Cost Claims settlement and Prevention organisation K-210 NTKMs Compensation claims and Misc.

More Definitions of Claims settlement

Claims settlement means all the activities of an insurer relating directly or indirectly to the determination of the extent of liabilities due or potentially due under coverages afforded by the policy, and which result in a claim payment or acceptance, compromise or rejection.

Claims settlement. The maximum amount We will pay in respect of loss or damage to the Insured Vehicle shall be the Market Value of the Insured Vehicle immediately prior to the time of such loss or damage or Your last declared estimate of value of the Insured Vehicle (where appropriate) whichever is the lower amount. If to Our knowledge the Insured Vehicle is the subject of a leasing or contract hire agreement such payment shall be made to the owner described therein whose receipt shall be a full and final discharge to Us in respect of such loss or damage.

Claims settlement means the compromise and settlement regarding the allowance and treatment of First Lien Claims to be implemented pursuant to the Plan, as set forth in the Plan Term Sheet.

Claims settlement means the actual payment of claims due to the claimants as determined by DGF. However, it is important for the claimant to ensure correctness and completeness of documentation to minimize delays on reimbursement.