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2 years ago

Under the payment of claims provision, when are benefits typically payable after proof of loss is received?

1 answer:

7 0

All claims other than those for periodic installments should be paid immediately after the insurer has received proof of loss.

A time of payment of claims provision states the wide variety of days that the insurance company has to pay or deny a submitted declaration. This provision is included to minimize the amount of time that a policyholder has to anticipate his/her payment or for a selection approximately his/her declare.

Claim provision means an amount payable to you under the policy to compensate you for the credit losses you have sustained from unpaid insured receivables.

A claim provision is a clause in an insurance contract that sets forth the process to be followed within the submission and management of claims. In the case of a reinsurance agreement, it states the phrases and conditions under which the reinsurer's legal responsibility for claims will arise.

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Answer: TRUE

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3 years ago

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Answer:

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Explanation:

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3 years ago

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Svetllana [295]

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3 years ago

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1 year ago

ABC Company’s budgeted sales for June, July, and August are 14,800, 18,800, and 16,800 units, respectively. ABC requires 30% of

aleksandr82 [10.1K]

Answer:

The number of units to be produced in June and July is 16,000 units and $18,200 respectively

Explanation:

The computations are shown below:

Number of units produced in June

= Sale units + ending inventory units - beginning inventory units

where,

Sale units is 14,800 units

Ending inventory units = 18,800 units × 30% = 5,640 units

Beginning inventory units = 4,440 units

Now put these units to the above formula

So, the units would equal to

= 14,800 units + 5,640 units - 4,440 units

= 16,000 units

Number of units produced in June

= Sale units + ending inventory units - beginning inventory units

where,

Sale units is 18,800

Ending inventory units = 16,800 units × 30% = 5,040 units

Beginning inventory units = 18,800 units × 30% = 5,640 units

Now put these units to the above formula

So, the units would equal to

= 18,800 units + 5,040 units - 5,640 units

= 18,200 units

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3 years ago