Answers
FirstiPartyiFocusi-iCorrectiAnswer-CoverageiandiAmountiofidamage
SecondiPartyi-iCorrectiAnswer-InsuranceiCompany
FirstiPartyi-iCorrectiAnswer-Insured
ThirdiPartyi-iCorrectiAnswer-Claimant
ThirdiPartyiFocusi-iCorrectiAnswer-
Liability,iCoverage,iandiAmountiofidamage
ThirdiPartyiAdministratori(TPA)i-iCorrectiAnswer-
aniorganizationithatiprovidesiadminiservicesiassociatediwithiriskifinanci
ngiandiinsurance.iTheyihandleiclaimsiandiriskimanagementiforiself-
insurediorganizations
IndependentiAdjusteri-iCorrectiAnswer-
handlesiclaimsiforitheiinsureriforiaifee.iWorksiforitheiinsurer
,PubliciAdjusteri-iCorrectiAnswer-
anioutsideiorganizationithatiisihiredibyitheiinsureditoirepresentitheiinsu
rediinitheiclaimiforiaifee.iWorksiforitheipublic
QuantitativeiMeasuresi-iCorrectiAnswer-
canihaveiactualinumbersiassigned,isuchiasinumberioficlaimsiopenediandi
percentageiofisubrogationirecovery
QualitativeiMeasuresi-iCorrectiAnswer-
relateditoiintangibleimeasures.inothingiconcrete,ididitheyidoiaigoodijob
?idoitheyihaveigoodinegotiationiskills?
Ethicsi-iCorrectiAnswer-
theistudyiofiwhaticonstitutesigoodiandibadibehavior,idealingiwithitheim
oralidutyiandiobligation
ConflictiofiInteresti-iCorrectiAnswer-
aisituationithatioccursiwheniaidecisionimakersipersonaliinterestsiinterfe
reitoitheiextentithatihe/sheimakesidecisionsithatiadverselyiaffectitheicu
stomer,iclaimant,ioriemployer
ExiParteiContracti-iCorrectiAnswer-
contractsiiniwhichionlyi1ipartyiisiheard.idiscussingitheiclaimiwithitheirep
resentedipersoniwithoutibenefitiofitheiriattorneyibeingiinvolved.ithisiisi
notiillegal,ibutiitsinotiethical.
, Fraudi-iCorrectiAnswer-
aniintentionalimisrepresentationiresultingiiniharmitoianotheripersoniori
organization
CodeiofiEthicsi-iCorrectiAnswer-
professionaliguidelinesiofibehavioriwithinianiorganizationioriprofession
N.A.I.Ci-iCorrectiAnswer-
TheiNationaliAssociationiofiInsuranceiCommissioners
ModeliLawsi-iCorrectiAnswer-
NAICidevelopsithatitheyifeeliisianiappropriateilawirelateditoiinsurance/r
iskimanagement
ModeliLawsi-iGoali-iCorrectiAnswer-
toistandardizeitheilawsirelateditoiinsurance,itoiaddressiissuesirelateditoi
insurance
UnfairiClaimsiSettlementiPracticeiActi-iCorrectiAnswer-
toipreventiinsuranceicompaniesifromitakingiunfairiadvantageiofitheiins
ured/claimants
ReservationsiofiRightsiLetteri-iCorrectiAnswer-
aniinsurer'siletterithatispecifiesicoverageiissuesiandiinformsitheiinsuredi
thatitheiinsureriisihandlingiaiclaimiwithitheiunderstandingithatitheiinsur
erimayilateridenyicoverageishoulditheifactsiwarrantiit.