A claimant initiates legal action by making claims, whereas a respondent is the party who must answer or defend against these claims.
When it comes to insurance, understanding the various terms and concepts can be quite overwhelming. One such term that you might come across is ASO, which stands for Administrative Services Only. ASO in insurance refers to a type of arrangement where the employer takes on the responsibility of ...
If the claim is covered, the claims team will negotiate a settlement with the claimant and pay the claim. The P&I club will also consider any deductible that may apply. Can I add additional coverage to my P&I insurance? Standard Club offers many additional covers that complement basic P...
Claim involves stating a right to something or asserting something is true, while proclaim involves declaring something publicly, often officially or formally.
How likely is Congress to extend Trump's tax cuts? Republicans have a majority in the House and Senate, as they did in 2017 when Congress passed the Tax Cuts & Jobs Act. That greatly boosts the odds of extending the tax cuts.
Insurance Claim Reserves: Are They Admissible? liabilities for claims arising under their. policies, or to provide liquidation of future indefinite obligations. 2 Some statutes will specify a minimum reserve, whereas others merely require that a legal reserve be main-" tained atHouser, Douglas G...
Generally, filers don’t have to include the claimant’s attorney fees in Form 1099-MISC. Form 1099-NEC can be used to report attorney services paid if no claim is involved. The attorney must furnish their TIN, even if a firm operates as a corporation or other entity. The IRS ...
In the insurance industry, an associate in claims (AIC) designation signifies specialized training and skills in the handling of various types ofinsuranceclaims. It is often pursued by those working in the insurance industry as claims adjusters, and it can be a valuable asset for those pursuing ...
The time you file an unemployment claim is very important. For example, consider an employer who hires an employee in March and lets that individual go after 30 days. If the claimant files an initial claim before April 1, the base period would not include the first quarter of that year (...
Rescission is a common practice in theinsuranceindustry. Insurers that provide life, fire, auto, and health coverage have aright to rescindpolicies without court approval, if, for example, they can prove that an application was submitted with false information. Consumers who want to fight this ca...