Underneath a “pay on behalf” policy, the insurance coverage service would defend and pay a claim on behalf of the insured who wouldn’t be out of pocket for something.
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Harness the power of your data. If the insured experiences a loss which is probably coated by the insurance coverage, the insured submits a claim to the insurer for processing by a claims adjuster The insurer might hedge its personal danger by taking out reinsurance , whereby another insurance company agrees to carry a few of the danger, particularly if the first insurer deems the chance too massive for it to carry.
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