the person who assesses a claims validity, especially that against an insurance company.
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CLAIM AGENT
A representative of an insurance firm, Local or overseas, authorized to settle claims of an insured party for a covered loss.
CLAIM AND DE LIVERY
An action at law for the recovery of specific personal chattels wrongfully taken’and detained, with damages which the wrongful taking or detention has caused; in substance a modern modifica tion […]
CLAIM AND DELIVERY
the term that is applied to the suit for recovery of property that is wrongfully held or taken and will include damages for the wrongful act .
CLAIM CHECK
Ticket stub assigned to baggage, given to a passenger for claiming that baggage later.
CLAIM EXAMINER
Investigates insurance claims; recommends approval, adjustment, or denial.
CLAIM EXPENSE
The costs associated with paying a claim, other than the actual claim cost.
CLAIM FOR REFUND
Submission to the IRS requesting reimbursement of all or a portion of taxes paid in prior years. Often due to a mistake correction or a credit or loss against an […]
CLAIM IN BANKRUPTCY
the written proof that a debt is valid and owed by the person seeking bankruptcy or the company seeking bankruptcy.
CLAIM IN EQUITY
In English practice. In simple cases, where there was not any great conflict as to facts, and a discovery from a defendant was not sought, but a reference to chambers […]
CLAIM INVESTIGATION
Insurance process; firm or examiner seeks necessary information to assess the validity of a claim.
CLAIM JUMPING
This where a person is asserting his rights to an area already claimed for mining and is based on the first claim being filed wrongly or not having taken the […]
CLAIM OF CONUSANCE
In practice . An intervention by a third person in a suit, claiming that he has rightful jurisdiction of the cause which the plaintiff has commenced out of the claimant’s […]
CLAIM OF EXEMPTION
the right that is given by a judicial process to a debtor who can retain certain personal property that is free from seizure by creditors.
CLAIM OF LIBERTY
In English practice. A suit or petition to the queen, in the court of exchequer , to have liberties and franchises confirmed there by the attorney general
CLAIM OF OWNERSHIP
the claim of a right or a claim of title to enter lands with the intent of claiming and holding it.
CLAIM PROVISION
Procedural clause outlining the submission and claims administration .
CLAIM RATIO
Ratio of a general insurance firm’s claims total paid added to the loss adjustments against the premiums earned. Known also as loss ratio.
CLAIM REPORT
An agent’s detail report on the specifics of a claim.
CLAIM, N 1
A challenge of the property or ownership of a thing which is wrongfully withheld from the possession of the claimant. Stowell v. Zouali, Plowd. 359; Robinson v. Wiley, 15 N. […]
CLAIM, V
To demand as one’s own; to assert a personal right to any property or any right; to demand the possession or enjoyment of something rightfully one’s own, and wrongfully withheld. […]
CLAIMANT
In admiralty practice. The name given to a person who lays claim to property seized on a libel in rem. and who is authorized and admitted to defend the^ action. […]
CLAIMANT UNEMPLOYMENT RATE
A measure of the number of people currently claiming unemployment benefits in the UK versus the total number of people employed fulltime or part-time. This rate is trended as it […]
CLAIMS MADE BASIS
Insurance policy that only pays claims occurring during the period covered by the policy, and filed within that same period. Refer also to claims occurrence basis .
CLAIMS MADE BASIS LIABILITY COVERAGE
Coverage type where claims must be paid if submitted during the term of a liability policy, even if the event occurred after the term, resulting in the claim .