Claims

Question 1

Claim process

Answer 1

broker/agent is to collect information pertaining to the claim, counsel the client, report the claim, monitor progress of the claim and assist the insured with any concerns

Question 2

Police report

Answer 2

Any loss involving bodily injury, death, hit and run, an impaired driver, or vehicles that need to be towed, must be reported to RCMP

Question 3

Claim report

Answer 3

• keep claim report forms handy
• confirm identity of person reporting claims
• confirm whether the claim has been reported to Auto Fund
• confirm coverages that are in place
• advise the insured about coverage they do or do not have
• know reporting procedures for each insurer
• collect complete and correct contact info
• brief description of loss
• explain claim process to client
• report loss to insurance company
• record loss

Question 4

Claim follow-up

Answer 4

• follow up with insured after 1-3 days
• follow up again after 10 days
• communications between insured and adjuster are maintained
• insured and adjuster understand requirements of one another
• value added service of broker may assist to reconcile relationship between adjuster and insured
• follow up post claim

Question 5

Appeal

Answer 5

if insured is unhappy with resolved claim, they can appeal the decision made by the insurer by contacting head office of insurance company

Question 6

Appraisal

Answer 6

insured and adjuster have different opinion on damages incurred, insured may have repair facility of their choice appraise damage

Question 7

Arbitration

Answer 7

two appraisers are appointed (one for insured, and one for insurer) along w/ mutual accepted umpire, and render a decision

Question 8

Salvage

Answer 8

property saved or remaining after loss including the portion of property which is taken over by the insurer after payment of a claim, insured cannot abandon vehicle with insurer without consent

insured may retain property and the insurer will deduct this value from amount of the claim paid

Question 9

Subrogation

Answer 9

insurance company has paid for a loss caused by a negligent third party, the insurance company automatically gains the right to recover compensation from the at-fault or responsible party

Question 10

Small claims court

Answer 10

up to $20,000
adjudication
insured can seek recovery o their deductible and other uninsured costs from a 3rd party

useful for 50/50 loss claims