Sentences with phrase «determining claims payouts»

As a result, Colossus does not allow human judgment to play as much a role in determining claims payouts as was the case a generation ago.

Not exact matches

It offers two options for determining the tax debt, a flat 20 percent or a 10 - year plan, that may result in a lower tax debt than simply claiming the payout as a normal income.

While every case is different, courts and insurance companies both must use some sort of equation to determine how much a personal injury claim payout should be.

For example, if the insurance company actuaries review a certain area one year and determine it has a low - risk factor and only charge very minimal premiums that year, but then by the end of the year they see a rise in crime, a major disaster, high losses or claims payouts for unforeseen reasons, it may cause them to review their results and change the premium they will charge for that area in the new year.

The company will send a liability assessor to determine the extent of damage involved and calculate the payout they make towards your claim.

Another type of payout policy uses something called replacement value to determine the size of the claim.

Actual cash value determines limits for payouts on claims for collision policies, for example.