Claims in insurance are also called compensation or payment. Claim settlement means that the breaching party accepts the claim put forward by the injured party, and refers to the insurer's handling of the claim put forward by the insured after the insurance accident. After the insured suffers a disaster accident, he should immediately file a claim with the insurer or through a claim agent, review all the documents submitted according to the provisions of the insurance policy, find out whether the cause of the loss belongs to the insurance scope, estimate the degree of the loss, determine the amount of compensation, and finally pay. If the loss is caused by the responsibility of a third party, the insured shall transfer the right to recover the loss from the third party.

Matters needing attention in claim settlement

1. Carefully review the documents submitted by foreign buyers and the legality of the issuing agency;

2 to do a good job in investigation and study, find out the facts, and distinguish the responsibilities;

3. It is necessary to reasonably determine the extent, amount and compensation method of the loss.

There are two ways for insurance companies to claim compensation from policyholders according to insurance contracts: compensation and payment.

Compensation corresponds to property insurance, which means that when an insurance company is out of danger, it will compensate the insured for the loss based on the insured amount according to the damage of the insured property. Insurance compensation is compensatory, that is, only the actual loss is compensated, which is equivalent to the value of the damaged property at most, but never exceeds its value.

Life insurance is based on human life or body, because human life and body can not be measured by money, so the damage of life insurance to life or body can not be compensated by money. Therefore, when out of danger, the insurance company can only pay the insurance premium to the insured or beneficiary within the amount agreed in the policy. That is, life insurance pays insurance money in the form of payment.

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