Insurance 101 – Chapter 7 – Volume 44 – Clarify the Final Details of the Loss

Clarify the Final Details of the Loss

The adjuster must ensure that the payment draft or check is issued to proper parties. Each named insured, mortgagee, or lien holder must be named on the draft or check. The check must protect the interest of the insured’s public adjuster or attorney and the insured’s contractor. Every person with an interest in the money paid to indemnify the insured should be named on the payment unless they specifically, and in writing, ask that they not be named.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

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The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.

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