AIC 303 Chpt 7 – Questions With Comprehensive
Solutions
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Practice questions for this set
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The process by which an insurer can recover the amount paid from any party
(other than the insured) who caused the loss or is legally liable for it.
Choose an answer
1 Nuisance Settlement 2 Release
3 Subrogation 4 Lien
Don't know?
Terms in this set (32)
A payment made for a nominal amount to conclude a
Nuisance Settlement
doubtful liability claim.
First-Call Settlements A settlement made upon the first contact with claimant.
A draft and release sent to claimant the claims rep thinks
Drop Draft
would settle the claim.
A payment made to a claimant following a loss to cover
Advance Payments
the immediate expenses resulting from that loss.
Solutions
Save
Practice questions for this set
Learn 1 /7 Study with Learn
The process by which an insurer can recover the amount paid from any party
(other than the insured) who caused the loss or is legally liable for it.
Choose an answer
1 Nuisance Settlement 2 Release
3 Subrogation 4 Lien
Don't know?
Terms in this set (32)
A payment made for a nominal amount to conclude a
Nuisance Settlement
doubtful liability claim.
First-Call Settlements A settlement made upon the first contact with claimant.
A draft and release sent to claimant the claims rep thinks
Drop Draft
would settle the claim.
A payment made to a claimant following a loss to cover
Advance Payments
the immediate expenses resulting from that loss.
