Choose the Correct Verb and then click on the blank to see the answer
- 1.
______ refers to the resolution of an insurance claim and the payment of benefits.
Settlement
a) Resolution (Auflösung)
b) Agreement (Vereinbarung)
c) Settlement (Regelung) - 2.
______ are individuals or entities entitled to receive insurance benefits.
Claimants
a) Beneficiaries (Begünstigte)
b) Recipients (Empfänger)
c) Claimants (Anspruchsberechtigte) - 3.
______ evaluate and settle insurance claims on behalf of the insurer.
Adjusters
a) Evaluators (Bewerter)
b) Settlers (Regulierer)
c) Adjusters (Schadensregulierer) - 4.
______ involves strategies to identify, assess, and mitigate potential risks.
Risk management
a) Risk avoidance (Risikovermeidung)
b) Risk control (Risikokontrolle)
c) Risk management (Risikomanagement) - 5.
______ is the amount the policyholder pays before the insurer covers the remaining loss.
Excess
a) Surplus (Überschuss)
b) Deductible (Selbstbeteiligung)
c) Excess (Selbstbeteiligung) - 6.
______ allows insurers to recover costs from third parties responsible for a loss.
Subrogation
a) Substitution (Substitution)
b) Compensation (Entschädigung)
c) Subrogation (Subrogation) - 7.
______ is the value of damaged property that insurers may recover after paying a claim.
Salvage
a) Recovery (Wiederherstellung)
b) Salvage (Bergung)
c) Compensation (Entschädigung) - 8.
______ refers to the end of an insurance policy's coverage period.
Expiry
a) Termination (Beendigung)
b) Expiration (Ablauf)
c) Expiry (Ablauf) - 9.
______ reinsurance covers losses beyond a specified limit.
Excess of loss
a) Surplus of loss (Überschuss der Verluste)
b) Excess of loss (Überschuss der Verluste)
c) Loss of excess (Verlust des Überschusses) - 10.
______ policies provide a lump sum payout either at the end of a specified period or upon the insured's death.
Endowment
a) Reward (Belohnung)
b) Payout (Auszahlung)
c) Endowment (Leistung)