USAA Exam Questions and Answers

3 basic steps of claims investigation - ans-verifying insurance coverage obtain additional information about the claim verify and compare this information what are the 3 types of claim reports - ans-initial for first field -( 24hrs to 7 days( interim or status report - (15-30 days informed) full formal report what are the 2 methods to making estimates for claims - ans-Time and Material method Unit cost method In Texas, the signed and sworn proof of loss statement must be sent to the insured claimant within how many days of their insured's claim notification to the insurance carrier? - ans-15 days In Texas, the signed and sworn proof of loss statement must be returned to the insurance company by the insured within how many days? - ans-91 Days Texas regulations required the insurer to notify the named insured in writing within how many days after the date of the initial settlement offer - ans-10 days The insurer must notify the named insured within how many days after the claim is settled - ans-30 days what is a declaratory judgment action - ans-when the insurer presents the coverage question to the court for a decision on coverage