AIC 300 Study guides, Class notes & Summaries

AIC 300 - Claims in an Evolving World Exam Questions With 100% Correct Answers B. By certified mail with a return receipt requested. Some will also send a copy via regular mail in case the certified letter is not accepted. - answerInsurers usually send denial letters Select one: A. By email to ensure prompt receipt by the insured. B. By certified mail with a return receipt requested. C. By overnight courier. D. By registered mail. D. Subpoenaed. Any written claims communication may b...

Insurers usually send denial letters Select one: A. By email to ensure prompt receipt by the insured. B. By certified mail with a return receipt requested. C. By overnight courier. D. By registered mail. - B. By certified mail with a return receipt requested. Some will also send a copy via regular mail in case the certified letter is not accepted. As methods of communication evolve, it's important for claims professionals to remember that any written claims communication may be Sele...

Insurers usually send denial letters Select one: A. By email to ensure prompt receipt by the insured. B. By certified mail with a return receipt requested. C. By overnight courier. D. By registered mail. - B. By certified mail with a return receipt requested. Some will also send a copy via regular mail in case the certified letter is not accepted. As methods of communication evolve, it's important for claims professionals to remember that any written claims communication may be Select ...

Worthley Insurance Company uses claim audits to ensure compliance with best practices. These audits evaluate both quantitative and qualitative factors. Which one of the following factors that Worthley evaluates is a qualitative factor? Select one: A. Accuracy of data entry B. Accurate evaluation of insured's liability C. Average claim settlement value by claim type D. Timeliness of reserving - Accurate evaluation of insured's liability. Accurate evaluation of insured's liability is...

B. By certified mail with a return receipt requested. Some will also send a copy via regular mail in case the certified letter is not accepted. - Insurers usually send denial letters Select one: A. By email to ensure prompt receipt by the insured. B. By certified mail with a return receipt requested. C. By overnight courier. D. By registered mail. D. Subpoenaed. Any written claims communication may be subpoenaed. - As methods of communication evolve, it's important for claims profes...

In addition to the title of the meeting, the date, time and location it occurred, what are the other important items to include in a meeting minutes? - List of attendees and who needs to receive a copy of the minutes. Clear and unbiased summary of the major points, discussions, and decisions made. Action items with responsibility and due dates. Which of the following documents is used by a Contractor to communicate to the Design Professional and the Owner what materials and equipment wi...

What percentage of a conversation does a listener remember of what they hear? - 10% What percentage of a conversation does a speaker remember of what they say and do? - 90% When giving a presentation, one should do which of the following? - Keep the conversation short and on topic Which of the following should one do to effectively listen? - Listen objectively with the intent to understand the speaker's perspective Which of the following statements is true about texting and a subcontrac...

First Party Focus - Coverage and Amount of damage Second Party - Insurance Company First Party - Insured Third Party - Claimant Third Party Focus - Liability, Coverage, and Amount of damage Third Party Administrator (TPA) - an organization that provides admin services associated with risk financing and insurance. They handle claims and risk management for self-insured organizations Independent Adjuster - handles claims for the insurer for a fee. Works for the insurer Public Adjuster - a...

Which of the following documents is utilized for correspondence between the A/E or Owner and the Contractor? - Formal Business Letter Which of the following documents is used for correspondence between the home office and the job site? - Memorandum What is the best time to distribute the Working Agenda to the Participants? - About one day prior to the meeting Which document describes the Suggested Agenda for the Preconstruction Meeting? - General Requirements What is the best time to d...

Insurable Interest - An interest in the subject of an insurance policy that is not unduly remote and that would cause the interested party to suffer financial loss if an insured event occurred. Contract of Indemnity - A contract in which the insurer agrees, in the event of a covered loss, to pay an amount directly related to the amount of the loss. Joint Owners/Tenants - Two or more persons each having a full interest in the property. Each tenant has an insurable interest to the full ext...