In insurance, a claim reserve refers to:
A. The amount the insured must pay out of pocket before the insurer covers the rest.
B. The financial liability of the insurer in case of a loss.
C. The estimated amount the insurer will need to pay for future claim settlements.
D. The maximum amount the insurer will pay for a claim.
Answer:C
In insurance, a claim reserve refers to:
A. The amount the insured must pay out of pocket before the insurer covers the rest. B. The financial liability of the insurer in case of a loss. C. The estimated amount the insurer will need to pay for future claim settlements. D. The maximum amount the insurer will pay for a claim.