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A basic definition of Insurance Services is “the insurance or the insurance-like service of a third-party that assumes and takes on a responsibility for risks that the insured is unable to undertake on his own.” In the context of the insurance industry, however, it usually refers to any kind of insurance or other insurance service. A wide variety of examples of Insurance Services are the following: property insurance, health insurance, casualty insurance, industrial insurance, disability insurance, life insurance, mortgage insurance, automobile insurance, credit insurance, and many others. Some examples of other related services may also be included under the broader heading of “Insurance Services.”
All insurance services shall offer cross-claims protection as are offered by the standard ISO (International Association of Insurance Agents) and as would normally be afforded by the ordinary independent insurance broker. Each such insurance service shall give insured parties the right to demand indemnification against the insurer’s failure to comply with its claims under the policy. The right to demand indemnification is referred to as “expert indemnity” and is an inherent feature of all insurance policies. Another important feature of an insurance service is that it should give rise to a claim for compensation from all beneficiaries who are named in the policy, whether the beneficiaries are themselves insured or not. Such claims are often referred to as “contingent damages,” because the injured party has to show that he was harmed as a result of the insurer’s negligence.
Every insurance service has some prerequisites, which are typically detailed in the fine prints of the policy or in the declarations page that accompanies it. The precise language and scope of an insurance service are decided upon by the insurance company before issuing the policy. However, generally, most insurance policies include a requirement that the insurer to pay all or a part of the medical costs that a victim of an accident in which the insured vehicle is involved might incur.
The next step in the process is to file a claim. In order to do so, the claimant should submit a claim form duly completed by him or her and signed by the claimant. This claim form contains all the information required by the insurer to process the claim, including the name and address of the person insured, the insurance company’s contact details, and the insurance policy’s reference number. This information is needed so that the insurer can pay the claim, make an investigation of the accident, and determine whether or not the damage to the claimant’s car was the result of the insured’s negligence.
The next step is to dispute the insurance claim. Claiming a claim against an insurance company is done through one of two ways: directly with the insurer or through a third-party claim organization. Directly filing a claim with the insurer will require the submission of an application and the payment of an administrative fee. On the other hand, third-party claim organizations process the claims on behalf of their members. It is usual for them to charge a reasonable fee for their services, but this should be paid only after they have successfully obtained all the relevant evidence from the insurance company. After they have gathered all the relevant evidence, their representatives will visit the company’s site to verify the facts contained in the claim form.
When these two methods fail, or if the evidence provided by the insurance company doesn’t match with the information on the claim form, then the claimant must file a counter-claim against the insurance company. A counter-claim can be filed either within 30 days or within a longer period specified by the insurance company. However, filing a counter-claim should always begin with the filing of a claim itself. If no claim is filed within the prescribed time period, the insurer may decide to dismiss the complaint.