Question

Which of the following activities would not be categorised under professional settlement of claims?

a.

Seeking information relating to the cause of the loss

b.

Approaching the claim with a prejudice

c.

Ascertaining whether the loss was a result of an insured peril

d.

Quantifying the amount payable under the claim

Answer: (b).Approaching the claim with a prejudice Explanation:The correct answer is b because approaching a claim with prejudice contradicts the principles of fairness, objectivity, and professionalism in claim settlement. It is important to treat each claim with an open mind and follow a fair and objective evaluation process.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. Which of the following activities would not be categorised under professional settlement of claims?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What is the primary role of the Insurance Ombudsman in resolving disputes?

Q. Where can one find the details of the Insurance Ombudsman's office?

Q. Is the decision of an Insurance Ombudsman binding on the insured?

Q. In personal lines of business insurance, what can a dissatisfied insured do to resolve their issues?

Q. What is the purpose of mentioning the grievance redressal mechanism in insurance policies as per IRDAI regulations?

Q. Under what circumstances are disputes about liability typically settled in insurance claims?

Q. What is the typical role of an Umpire in the arbitration process?

Q. In insurance policies, which types of disputes are commonly subject to arbitration?

Q. Who can conduct arbitration in dispute resolution?

Q. What is the main purpose of arbitration in settling disputes arising from contracts?

Q. In non-life claims, what happens to damaged property referred to as "Salvage" after a claim is settled?

Q. What is the condition "Arbitration" commonly found in insurance policies?

Q. What common reasons might lead to disputes between insurers and the insured regarding claims?

Q. How do insurers recover losses from third parties who may be responsible for a loss?

Q. What is "Salvage" in the context of insurance claims?

Q. How does post-settlement action in non-life claims relate to underwriting?

Q. What happens to a personal accident policy after the payment of the capital sum insured?

Q. In which situation does the sum insured under a fire policy stand reduced?

Q. What is the purpose of "Discharge vouchers" in insurance claim settlements?

Q. What is the purpose of "On account payment" in non-life insurance claims?

Recommended Subjects

Are you eager to expand your knowledge beyond IC38 Life Insurance Agent Exam? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!