Question

What are claim expenses in insurance?

a.

Expenses incurred for policy renewals

b.

Expenses incurred to procure business, including fees for medical exams, lab reports, advertisements, underwriting, and administration costs

c.

Expenses incurred to settle claims, including investigation expenses and litigation costs

d.

Expenses related to premium collection

Answer: (c).Expenses incurred to settle claims, including investigation expenses and litigation costs Explanation:Claim expenses in insurance refer to expenses incurred to settle claims, including investigation expenses and litigation costs.

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Q. What are claim expenses in insurance?

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