If Claims Have Been Reported to the Insurer After the Contract

question 236

True/False

If claims have been reported to the insurer after the contract period, it may several months for the insurer to investigate and establish a case reserve for reported claims.

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Definitions:

Cutting Pattern

The designed arrangement or plan for cutting materials in order to minimize waste or maximize efficiency.

Scrap

Waste material or any unwanted item that can be removed from a process, often recycled or sold to reclaim value.

End Items

Final products ready for sale or consumed as a completed part of a project or commodity.

Sheet Metal

Sheet Metal is thin, flat metal pieces of varying thickness, often used in metalworking to fabricate products or structures.