THE DEADLINE FOR PAYMENT OF CLAIMS
Polis-Standard-Insurance-Fire set sixty days after receipt of the proofs of loss and getting the determination of losses, losses that have to be paid by the insurance company.
The purpose of this article is to give time to the insurance company to investigate and arrange payment. Insurance companies typically do not wait for the time limit of 60 days, but pay him immediately the claims it approved.
The Time limit in Other Insurance Policies
The time limit in other insurance policies do not necessarily 60 days as well as in the case of the fire insurance policy. Example, registered mail is 15 days, camera tools policy is 7 days. Trade accounts receivable policy requires that insurance companies are paying out in 3 months lack the Bills suffered a disaster because it covered Parties listed in the policy. Health insurance policies contain a clause requiring the loss immediately after receipt of valid evidence.
THE DEADLINE FOR BRINGING THE MATTER TO COURT
Insurance policy establishes the time limit for bringing the matter to court. This time limit can be a minimum time limit or the maximum time limit, or both.
The Time limit in the Fire Insurance Policy
Standard fire insurance policies in New York set a maximum time limit of 12 months for the bear after a fire. However, he can sue the Court if he had filled all the provisions of that policy.
The purpose of the time limit of this maximum is to allow the insurer ended his responsibility over his policies in a decent period of time, so that backup-backup for losses that have been reported but not yet completed can be more manageable (managed), and so the demands submitted before the facts of the matter are becoming old, rotted or foggy.
The time limit in Other policies
Car policy specifies the demands can be made to the Court at least 30 days after the filing of proof of loss and he has determined the amount of losses and after party was borne entirely meets the requirements in the policy.
Car insurance policy does not set a maximum time limit for bringing the matter to the Court as well as a fire insurance policy. Instead he set a minimum time limit of 30 days after proof of loss is filed.
Life insurance policy determines the minimum and maximum time limits. A section reads as follows:
There is no law or court action may be brought upon this policy before the interminable 60 days after filing a proof of loss in accordance with the terms and conditions of the policy. And legal action also cannot be submitted at all through 3 know after filing proof of loss set by the policy.
The minimum time limit of 60 days is to give the opportunity to the insurance company to process the claims. A maximum of 3 years is so that insurance companies do not bear the debt for an unlimited time.
ARTICLE SUNDRIES
Relationship with third parties
Some insurance policies contain the articles that explain the relationships with third parties who may be involved in a claim. The insurer with a third party that may be involved in a claim. A small portion of the contract gives the right to the insurance companies to deal directly with a third party, while other policies forbid it.
Family car policy for example stated that insurance companies can complete a claim losses either by the parties or be borne by the owner of the car.
On the contrary, trade accounts receivable policy (accoounts receifable polici) stated that the insurer would not have to approach the customer or client of the incurred for billing or for any other purpose in connection with insurance that. This section allows the party that paid it maintain trade relations which have been building for years. The policy responsibilities of physicians, surgeons and dentists, stipulates that the insurance company will not settle or compromising a claim or lawsuit suit that covered in this policy without the written consent of the parties to the paid. The main purpose of this chapter is to maintain the good name of the bear.
Other Articles
Polis jewelry and silver often times determine that the value of an antique or historic which may be contained in the goods insured, excluded from the valuation of the loss or damage. The purpose of this article is to prevent the possibility of disputes. Antique values and historically usually insure with the fine-arts policy.
OVERVIEW
Policy assignment of rights and duties of the parties was borne and bore after the occurrence of a loss, differing from each other. In General, the party that incurred must notify the insurance company, filed a proof of loss, helping to reduce losses and cooperate with the insurance company to obtain a settlement quickly, fairly and smoothly over the losses. The nature of the tasks time limits and procedures vary between one policy with the other. Most policies require that notice with wire, others require a written annual givers. Some policy placed the proof of loss is received within 90 days, another 60 days. Some policies provide the option of settlement to the parties to the paid, while other policies on the part of the insurer. There is a policy setting a minimum time limit. There is also a set of both.
Incurred should read the policy entirely so that he can meet all obligations according to the contract it.
