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LeoGlossary: Claim (Insurance)
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A formal request by a policy holder to an insurance company for compensation related to a policy event. The insurance company will have to provide settlement if the claim is approved. This usually involves an adjuster looking at the claim along with investigation of the validity.
If all goes well, the insurer will provide financial compensation to the insured as outlined by the policy. This is a payment directly to the one spelled out in the policy.
General:
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