Claims Department :

When an insured loss occurs, insurers are required to pay claims within a reasonable time from the date of notice filed by the insured. The claims department reviews and verifies claims that have been submitted and determines the terms of settlement with the claimant. The claimant is defined as someone who makes a claim. We at FNS generally refer to a claimant as the third party in a claim; i.e. one who files a claim against the insured or first party. In any multi-vehicle auto claim, three parties exist. The first party we refer to as the insured or policyholder. The second party we refer to as the insurance carrier, and the third party we refer to as the claimant, or the individual involved in the loss who does not have a policy with the client to which we are filing the loss. 



Claim settlement is more difficult in property and liability insurance. Where losses are relatively small and clear-cut, many insurers give the authority to settle claims to the agents. 

Where losses are large and complicated, the claims department may assign the loss to staff adjusters who are employees of the company. Adjusters who are not employees of the company are known as independent adjusters. They are used when technical knowledge of the specialized skill is required in the particular case. Independent adjusters are also used when the insurer does not have a local staff adjuster or employee to handle the loss. 



Frequently, a claim settlement may be handled by adjustment bureaus, which are owned by the insurance companies or through public adjusters who represent the insured. Thus, the manner in which the claims department satisfies its liability to policy holders depends upon the type of loss involved, its size or the extent to which specialization or knowledge in the particular field is required.