N.C. Claims Adjuster Exam Correct 100%

Inception/Expiration Date - ANSWER an insurance policy covers the insured starting at 12:01am on the day on which coverage begins and expires at 12:01am on the expiration day of the policy. Occurrence Date - ANSWER Date of which the loss occurred Identification of parties involved - ANSWER The loss report should include the names and addresses of the parties involved in the loss, the names and addresses of any injured person(s) and the names and addresses of any witness(s). Policy Form/Number - ANSWER Identifies the type of coverage purchased (policy form) and the policy number for the particular policy purchased by the insured. Description of the Loss - ANSWER Information concerning how, when and where the accident or loss happened is an essential element in any loss report. Coverage - ANSWER Shows the type of coverage(s) purchased as well as the limits of coverage purchased. Damages - Special Compensatory damages - ANSWER Are amounts paid to compensate the plaintiff for direct expenses such as medical treatment, lost wages (both past and future), funeral expenses and rehabilitation