Monday, February 11, 2008

Claim settlement service

Here is an example of the claim settlement service provided by an insurance company.


If you drive a motorcar and was involved in an accident, you may receive a letter from the other party's lawyers making a large claim for damages from you. It will be quite troublesome for you to handle the claim, as you have to deal with the following uncertainties:


1. Which party is negligent and responsible for the accident?

2. How much is the fair amount of compensation? Is the repair cost a fair price or exaggerated?


If you buy insurance, the task of claim settlement is passed to the insurance company. They have lawyers and loss adjustors to handel the negotiation and settlement. They also pay the acmount of the claim.


It is useful to have insurance to take care of these matters.
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2 comments:

Anonymous said...

In an accident you can see a character of a person.

1. Opportunist, who will claim on the slightest damage, including a scratch.

2. Great liar who will report otherwise and no admit fault, even when at fault

3. People of integrity who report accordingly.

I always tell my client, report accordingly with integrity and let the insurer handles.

No choice if you met with unreasonable, bully and a liar, report accordingly and let insurer settle, something, frankly, the liar wins.

But let it be and have peace of mind than to deal with liars.

Insurers mostly know how to handle.

Well, this is what the world is, many liars and cheats when come to motor accidents, many of them report without integrity or are opportunist. Kind ones are not many to come by. This week I handle another case, the other party is not aware that my client is a public prosecutor, but he did not use his position to warn him, he is a kind chap. But the other party will face the consequences trying his luck too far later.

- Thomas Phua

February 15, 2008 10:19 AM
Joanna said...

Dear Mr Tan,

Kindly advise whether is there any procedures or progress to expedite Insurance to make interim amount. My parents were involved in the accidents and household expenses, debts and medical bills were mounting. The insurance company is the same one for my parents and defendant.

Thanks and regards,
Joanna

August 08, 2008 5:49 PM

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