Claims settlement definition

Claims settlement means an agreement between an insurer and claimant as to the amount of money owed to the claimant on a particular claim.
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Claims settlement. The maximum amount We will pay in respect of loss or damage to the Insured Vehicle shall be the Market Value of the Insured Vehicle immediately prior to the time of such loss or damage or Your last declared estimate of value of the Insured Vehicle (where appropriate) whichever is the lower amount. If to Our knowledge the Insured Vehicle is the subject of a hire purchase agreement such payment shall be made to the owner described therein whose receipt shall be a full and final discharge to Us in respect of such loss or damage. Replacement Parts: We may at our option fit replacement parts which are not supplied by the original manufacturer of the Insured Vehicle but which are of the same standard Excess Clause: We will not be liable for the amount of the Excess shown in the Schedule. Recovery and Redelivery: If the Insured Vehicle cannot be driven as a result of loss or damage insured under this Policy We will bear the reasonable cost of protection and removal to the nearest competent repairers. We will also pay the reasonable cost of redelivering the Insured Vehicle to You after the repair of such loss or damage to Your chosen address in the United Kingdom. Replacement with New Car: If within 12 months of first registration as new any Private Car which You purchase as new and which You own or which is held by You from new under a hire purchase leasing or contract hire agreement is:
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Claims settlement means all the activities of an insurer relating directly or indirectly to the determination of the extent of liabilities due or potentially due under coverages afforded by the policy, and which result in a claim payment or acceptance, compromise or rejection.
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Examples of Claims settlement in a sentence

  • Claims settlement is agency specific and remains the responsibility of the incident agency.

  • Claims settlement decisions of the Insurer that are disputed by the concerned EHCP shall be examined in depth by the CRC after such grievance of the EHCP is forwarded by the concerned Grievance Redressal Committee (GRC) to the CRC.

  • RISK RESPONSIBILITIESPrincipal activities Branch / area Country/ division Group Risk assessment Contract management Loss prevention Claims settlement Insurance purchasing EXAMPLE – RISK MANAGEMENT ACTIVITIES: SECURITAS’ VALUES AND ETHICS COMPLIANCE RISK Training and awareness are key components of risk managementSecuritas has training centers in most countries and provides both basic and highly specialized training for employees at all different levels.

  • The Broker will notify the Department's Contract Manager of any concerns regarding the ability to provide ongoing services, Claims settlement, or any diminished actions including, but not limited to, the reduction in the financial rating of the insurer providing coverage subsequent to contract award.

  • The term ‘‘Indian tribe’’ means any Indian tribe, band, nation, or other organized group or community of Indians, including any Alas- ka Native village or regional or village cor- poration as defined in, or established pursuant to, the Alaska Native Claims settlement 1 Act (43 U.S.C. 1601 et seq.).

  • Claims settlement ratio score will be arrived at by applying formula (C/C(High)*20).

  • Claims settlement – In order that reimbursement under this section can be made, we will require details of the club subscription paid.You must get and act on advice from a registered medical practitioner, and have any medical examination that we ask and pay for.

  • Claims settlement and loss expenses are accrued in the Self-Insurance Fund for the estimated settlement value of claims reported and incurred but not reported arising from incidents during the period.

  • Claims settlement shall be limited to the non-refundable amounts stipulated above at the time of the cause of cancellation or within 48 hours.

  • Paperless Claims settlement for the hospitals with electronic clearing facility.


More Definitions of Claims settlement

Claims settlement. The maximum amount We will pay in respect of loss or damage to the Insured Vehicle shall be the Market Value of the Insured Vehicle immediately prior to the time of such loss or damage or Your last declared estimate of value of the Insured Vehicle (where appropriate) whichever is the lower amount. If to Our knowledge the Insured Vehicle is the subject of a leasing or contract hire agreement such payment shall be made to the owner described therein whose receipt shall be a full and final discharge to Us in respect of such loss or damage. If to our knowledge the vehicle is the subject of a Hire Purchase agreement we shall • settle any outstanding amount owed under the Hire Purchase agreement • return any residual amount to the policyholder other than where there is separate insurance in force which affords this protection to the policyholder. Replacement Parts: We may at our option fit replacement parts which are not supplied by the original manufacturer of the Insured Vehicle but which are of the same standard Excess Clause: We will not be liable for the amount of the Excess shown in the Schedule. Young and inexperienced drivers’ Excess: If the Insured Vehicle is being driven by, or is for the purpose of driving in the care, custody and control of any driver who: • is aged 17 - 21 years of age - additional £1,000 Excess to apply • is aged 22 – 24 years of age – additional £500 Excess to apply • has less than 24 months continuous driving experience under a full licence applicable to the Insured Vehicle being driven or who holds a provisional licence – additional £500 Excess to apply The above amounts are in addition to any other Excess shown in the Schedule. Recovery and Redelivery: If the Insured Vehicle cannot be driven as a result of loss or damage insured under this Policy We will bear the reasonable cost of protection and removal to the nearest competent repairers. We will also pay the reasonable cost of redelivering the Insured Vehicle to You after the repair of such loss or damage to Your chosen address in the United Kingdom. Replacement with New Car: If within 12 months of first registration as new any Private Car which You purchase as new and which You own or which is held by You from new under a hire purchase leasing or contract hire agreement is:
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Claims settlement means the actual payment of claims due to the claimants as determined by DGF. However, it is important for the claimant to ensure correctness and completeness of documentation to minimize delays on reimbursement.
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Claims settlement means the compromise and settlement regarding the allowance and treatment of First Lien Claims to be implemented pursuant to the Plan, as set forth in the Plan Term Sheet.
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Claims settlement. The maximum amount We will pay in respect of loss or damage to the Insured Vehicle shall be the Market Value of the Insured Vehicle immediately prior to the time of such loss or damage or Your last declared estimate of value of the Insured Vehicle (where appropriate) whichever is the lower amount. If to Our knowledge the Insured Vehicle is the subject of a leasing or contract hire agreement such payment shall be made to the owner described therein whose receipt shall be a full and final discharge to Us in respect of such loss or damage.
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Related to Claims settlement

  • ASX Settlement means ASX Settlement Pty Ltd (ABN 49 008 504 532);

  • PJM Settlement or “PJM Settlement, Inc.” shall mean PJM Settlement, Inc. (or its successor), established by PJM as set forth in Section 3.3 of the Operating Agreement.

  • securities settlement system means a securities settlement system (as defined in the CSD Regulation) operated by a central securities depository;

  • Retail Settlement Code means the code approved by the Board and in effect at the relevant time, which, among other things, establishes a distributor’s obligations and responsibilities associated with financial settlement among retailers and customers and provides for tracking and facilitating customer transfers among competitive retailers;

  • Gross Settlement Fund means the Settlement Amount plus all interest earned thereon.

  • CCASS Settlement Day means the term “Settlement Day” as defined in the General Rules of CCASS.

  • Final Settlement means permanent settlement of the Contractor’s actual allowable costs or expenditures as determined at the time of audit, which shall be completed within three years of the date the year-end cost settlement report was accepted for interim settlement by the State. If the audit is not completed within three years, the interim settlement shall be considered as the final settlement.

  • Share Settlement means a number of shares of Class A Common Stock equal to the number of Redeemed Units.

  • Settlement Claim means a claim for settlement benefits made under the terms of this Settlement Agreement.

  • Claims Bar Date means the applicable bar date by which Proofs of Claim must be Filed, as established by: (a) the Bar Date Order; (b) a Final Order of the Bankruptcy Court; or (c) the Plan.

  • Net Share Settlement means the settlement method pursuant to which an exercising Warrantholder shall be entitled to receive from the Company, for each Warrant exercised, a number of shares of Common Stock equal to the Net Share Amount without any payment therefor.

  • Settlement Class means, in respect of each Proceeding, the settlement class defined in Schedule A.

  • Day-ahead Settlement Interval means the interval used by settlements, which shall be every one clock hour.

  • Individual Settlement Payment means the amount payable from the Net

  • Settlement Classes means the Ontario Settlement Class and the Quebec Settlement Class.

  • Gross Settlement Amount means $240,000 which is the total amount Standard agrees to pay under the Settlement, except as provided in Paragraph 8 below. The Gross Settlement Amount will be used to pay Individual Class Payments, Individual PAGA Payments, the LWDA PAGA Payment, Class Counsel Fees, Class Counsel Expenses, Class Representative Service Payment and the Administrator’s Expenses.

  • settlement system means any infrastructure whether or not connected to the auction platform that can provide settlement services, which may include clearing, netting, management of collateral, or any other services, which ultimately enable the delivery of allowances on behalf of an auctioneer to a successful bidder or its successor in title, and the payment of the sum due by a successful bidder or its successor in title to an auctioneer, carried out through either of the following:

  • Net Settlement Fund means the Settlement Fund, plus accrued interest, less any award of attorneys’ fees or reimbursement of expenses and less applicable taxes, tax preparation expenses, and costs of notice and administration, that may be awarded or approved by the Court.

  • ASTC Settlement Rules means the operating rules of ASTC and, to the extent that they are applicable, the operating rules of ASX and the operating rules of the Australian Clearing House Pty Limited;

  • Cash Settlement shall have the meaning specified in Section 14.02(a).

  • Settlement Class Members means any member of the Settlement Class.

  • Net Settlement Amount means the Gross Settlement Amount, less the following payments in the amounts approved by the Court: Individual PAGA Payments, the LWDA PAGA Payment, Class Representative Service Payment, Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, and the Administration Expenses Payment. The remainder is to be paid to Participating Class Members as Individual Class Payments.

  • Trading and Settlement Code or “TSC” means the Single Electricity Market Trading and Settlement Code or any replacement thereof which sets out the rules for trading in electricity and settling energy imbalances and the responsibilities of parties to the code;

  • Resettlement means the impact of an involuntary taking of land under the Project, which taking causes affected persons to have their: (i) standard of living adversely affected; or (ii) right, title or interest in any house, land (including premises, agricultural and grazing land) or any other fixed or movable asset acquired or possessed, temporarily or permanently; or (iii) access to productive assets adversely affected, temporarily or permanently; or (iv) business, occupation, work or place of residence or habitat adversely affected, temporarily or permanently.

  • Settlement Procedures Timetable For offers to purchase Certificated Notes accepted by the Company, Settlement Procedures A through F set forth above shall be completed as soon as possible following the trade but not later than the respective times (New York City time) set forth below: Settlement Procedure Time ---------- ----

  • Purchase Contract Settlement Fund has the meaning specified in Section 5.5.