Insurance 101 – Chapter 8 – Volume 77 – Betterment – 2

Betterment – 2

Because the meaning of “betterment,” although grounded in calculations of life spans of property, became, in practice, a  subjective test applied irregularly by adjusters across the states, the adjuster and the insured were able to allow for consideration of mitigating facts. With such mitigating factors to consider, the insured and the insurer were able to adjust their differences until they were both satisfied that the insured was indemnified for the loss.

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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