When Insurance Against Perils becomes Perilous

Case Code: INS021 Case Length: 03 Pages Period: 2003 Pub Date: 2003 Teaching Note: Available

Price: Rs.100 Organization: Varied Industry: Insurance Countries: India Themes: -

Abstract Case Intro

Abstract

The case discusses the problems associated with assessing the amount of loss and settling the claim when the property is damaged due to perils like loss to property due to water leakage.

In addition, the case examines the problems that claims adjusters face when the terms of the policy allow repair or replacement of the property for settling the claim. The case also throws light on the conflicts that generally arise between the claims adjusters and the policyholders. The insured's concerns and the priorities of the claims adjusters following a loss to the property of the policyholder are also discussed in the case.

Issues

• Understand the difficulties faced by claims adjusters when dealing with a loss to property caused by leaking or broken water pipes
• Discuss the various problems associated with settling a claim for loss to property caused by water

Keywords

Problems, Assessing, Amount of Loss, Settling Claim, Property is Damaged, Perils, Loss to Property, Water Leakage Problems, Claims Adjusters, Terms of the Policy, Allow Repair, Replacement, Property Conflicts, Claims Adjusters, Policyholders, Priorities

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