#TermTuesday: Insurable Risk

TermTuesday Insurable Risk

 

       Insurance is all about mitigating risk. Regardless of what is being covered, a person or property, the company is partially assuming the risk that something wrong may happen. 

     The conditions that define an insurable risk varies from industry to industry, however some conditions are nearly universal:

  • the peril insured against must caused by accident or chance and be out of the control of the policy holder
  • there must be a high number of known similar exposures subject to the same dangers
  • the loss produced by a risk must have potential to be financially serious
  • the loss must be calculable and definable
  • the cost of insuring must be economically feasible
  • the peril cannot be likely to affect all insureds simultaneously

 

     Because insurance companies take on this risk, whenever a claim is filed there is always some kind of investigation to ensure that there is no fraud taking place. An easy way for health, property & casualty, disability & life, and other adjusters to check information provided by the claimant is to request a Medical Canvass!Designed to canvass medical facilities in a specific geographical area in an attempt to verify when and where a claimant may have received treatment. By doing this adjusters gain a more clear picture of the claimant's medical history and the timeline of events related to the claim! Medical Canvasses can discover treatment information not disclosed by the claimant or their attorney, substantiates statements about prior medical treatment and reveals possible material misrepresentations and provides specific treatment information. 

     An INTERTEL Medical Canvass is unique because the methodologies and care each case is given. INTERTEL's methodologies have become the industry standard when conducting these types of data driven investigations. Our Medical Canvass Program is recognized as one of the most comprehensive in the industry and second to none! For more information about INTERTEL's Medical Canvass Program, explore our website and social media! Or check out the action first hand and request a Medical Canvass today!

 

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