The customer and that that the policy covers that type of loss

Then we start paying the money to do so. From that point in time, the company goes through the rest of the investigation to determine what the actual damages are and what we have to do to put the customer in the same position that they were in before the loss. In either case, the reserves are adjusted as time goes on and more is known about the nature and extent of the loss. Another maxim, generally speaking, is the larger the loss, the longer it takes to settle, because, generally, size equates to complexity of the loss. Relatively speaking, property losses get settled more quickly than liability losses. On a liability loss, where there are allegations that the insured injured somebody else, then how much that injury is worth and whether there is litigation involved makes it more complicated, but the philosophy is basically the same.

You're just trying to restore the customer to where he or she was, and it's fairly easy to define, because you're dealing with a tangible loss of property. They're both under the same principal, though. On a property loss, where you're just replacing property - you've got a claim for a stolen TV - these are fairly easy to resolve, to burned-down homes, which are more complicated. That simply means that they have designed a set of business rules that sets up the reserves with a predetermined amount for that type of loss at the initial claim file setup. There are some companies that set up "formula based" case reserves. Then a claim file will be set up, saying that we will have to pay this claim to one extent or another, and an initial reserve will be set up on that file, which simply means the claims adjustor will look at the circumstances of the loss and say, "I think this loss is going to cost the company $10,000, so I'll set up a reserve for that amount."

If you should ask your agent if a liability	Look at the premium and you can	Pricing a premium is one basic process for
The customer and that that the policy	And when they have a claim, they	Profitability is the biggest thing I
Insurance companies try to mitigate those	How you go about getting new customers	Marketing is obviously important
It's a combination of a lot of bad things	Terrorism has a different set of parameters	Some of these awards, at least on
There are three major types of companies	P&C insurers include State Farm	The three biggest risks insurance companies
The appearance of the injured person will	In this way, an insurer has about three	In most jurisdictions, rate and form
Governments are becoming more involved	The idea was really to spread the