do they decide on the benefits you receive?
2006-11-08 03:45:16 · 16 answers · asked by cbjdot 2 in Business & Finance ➔ Insurance
It's pretty unusual for a CLAIM to pass over to the underwriters. It would be helpful if you could tell us what kind of claim this is (death claim on life insurance, medical bill, car, house, workers comp, etc.)
What it means, is the underwriter has to look at the policy terms & conditions, and determine if the claim is covered. What this implies, is that there's something really oddball about your claim, because the claims adjuster couldn't figure it out themself.
2006-11-08 06:48:42 · answer #1 · answered by Anonymous 7 · 1⤊ 0⤋
Insurance companies underwrite the risk they take when they insure you, your car, house, whatever. The people or firms they use to underwrite the risk are called the underwriters.
They will decide if your claim is valid or not.
It is the first step in getting your claim settled and there is no real time scale on it. It could be quick for a cut-and-dried case, or could last ages if they think there is something not quite right.
They will have an input on just how much you get, yes.
2006-11-08 03:55:10 · answer #2 · answered by superman in disguise 4 · 0⤊ 0⤋
If the underwriter was nice, they would have called you. A letter will explain the process or what they've decided to do. Insurance companies will do the cheapest of the following; repairing or replacing The concept of insurance is to put you back into the same financial position you were in in the first place - no more, no less.
2016-05-21 22:00:17 · answer #3 · answered by Audrey 4 · 0⤊ 0⤋
it means that your claim is being investigated by the people who ultimately make the decision on wether to pay out. this is not good news as it should have just gone through as a straight claim.
underwriters are only called upon when a claims advisor has problems and does not know wether to pay out or not...or they may have found something wrong within the claim, something that may even invalidate it.
you should have an answer very soon...good luck
2006-11-08 05:39:02 · answer #4 · answered by deldarko1977 2 · 0⤊ 0⤋
The underwriters are the people who make decisions and override the computer's automated decision, in insurance companies case, always denied at first. They will decide if you deserve a payout and for how much.
2006-11-08 03:48:08 · answer #5 · answered by djmonsta200883 2 · 0⤊ 0⤋
Most companies who sell insurance do not sell their own product. Infact they are "middle men" for insurance companies. E.G. HSBC use Norwich Union to provide their customers with Insurance. Norwich Union are therefore the underwriters. Basically this means your claim has now been passed to the company that actually insure you.
2006-11-08 03:56:48 · answer #6 · answered by qai5er 2 · 1⤊ 0⤋
All claims are ultimately decided by the underwriters, they make the decisions so you shouldnt have to wait long
2006-11-08 03:46:37 · answer #7 · answered by greydays 4 · 0⤊ 1⤋
the 'underwriter' are the people who decide if you get the claim or not mostly the manager
2006-11-08 03:47:05 · answer #8 · answered by MiZz RuBy 6 · 0⤊ 0⤋
Underwriters are who fund your insurance company. They are checking for the necessities of the procedures.
2006-11-08 03:51:10 · answer #9 · answered by Anonymous · 0⤊ 1⤋
No they just check out the claim for like a double check to see if it is right.
2006-11-08 03:46:40 · answer #10 · answered by bor_rabnud 6 · 0⤊ 0⤋