AIC 300 - Claims in an Evolving World | 100% Correct Answers | Verified | Latest 2024 Version

As methods of communication evolve, it's important for claims professionals to remember that any written claims communication may be a. Replaced with verbal communication b. Misinterpreted c. Edited later d. Subpoenaed - d. Subpoenaed Soft fraud occurs when a claim is exaggerated and is also referred to as a. Opportunity fraud b. Financial fraud c. Reimbursement fraud d. Victimless fraud - a. Opportunity fraud In which one of the following scenarios is the right of subrogation most likely to be employed by the insurer? a. An insured files a homeowners claim for stolen jewelry. An investigation reveals that the jewelry is still in the insured's possession. b. A claims rep discovers that their insured's car accident was caused by a road contractor who left equipment lying in the travel lanes of a highway. c. An investigation reveals that an insured set her own business on fire. d. An insured files a claim for collision damage from a hit and run accident, when in fact he backed into a utility pole. - b. A claims rep discovers that their insured's car accident was caused by a road contractor who left equipment lying in the travel lanes of a highway.In which one of the following scenarios is a public adjuster most likely to become involved? a. A catastrophic disaster strikes, involving damage to many properties. b. An insurer finds it financially unfeasible to hire its own claims staff in a given state. c. An insured is unable to afford legal representation to contest a claim. d. An insured's negotiations with the insurer on a complex