When Insurance Against Perils becomes Perilous


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Please note:

This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

Case Details:

Price:
Case Code : INS021 For delivery in electronic format: Rs. 100;
For delivery through courier (within India): Rs. 100 + Rs. 25 for Shipping & Handling Charges

Themes

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Case Length : 03 Pages
Period : 2003
Pub Date : 2003
Teaching Note : Available
Organization : Varied
Industry : Insurance
Countries : India

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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