exali Glossary
Your encyclopedia of technical terms used in the insurance industry
The insurance industry is full of technical terms—from insurance policies and obligations to recourse claims. To help you keep track of everything, the exali glossary explains the main insurance terms in a simple, understandable, and practical way.
In the exali glossary, you will find not only definitions, but also practical examples, legal information, and references to the appropriate insurance coverage. This way, you always know where the risks lie—and how to protect yourself against them.
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Claims Settlement
Claims settlement refers to the entire process by which an insurer handles a reported insurance claim – from review to final settlement. The aim is to determine whether and to what extent the insurer is obliged to pay benefits and, if necessary, to pay or defend against the claim.
Claims settlement process
- Claims notification: The policyholder reports the claim as soon as possible, including all relevant information and supporting documents.
- Coverage review: The insurer reviews whether the claim is covered under the agreed insurance terms and conditions.
- Determination of liability
- For liability insurance: Review of whether the policyholder is actually liable.
- For own damage coverage: Check whether the costs are considered insured own damage.
- Claim assessment: Determination of the amount of the claim, if necessary with appraisers or experts.
- Payment or defense
- Justified claims are settled (payment to the injured party or reimbursement to the policyholder).
- Unjustified claims are defended against – this is called passive legal protection.
Claims settlement at exali
exali's professional liability insurance takes care of the entire claims settlement process – this means:
- Review of liability
- Defense against unjustified claims
- Payment for justified claims
- Coverage of legal defense costs
Advantage: The insured does not have to deal with the claimant themselves – the insurance company takes care of the entire process.
Term: Claims Settlement
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