Prompt and professional loss adjustment services are a responsibility of what part of an insurer's organization?

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Prompt and professional loss adjustment services are a responsibility of what part of an insurer's organization?

A. The claims function
B. The loss control function
C. The premium audit function
D. The underwriting function

Answer: A. Prompt and professional loss adjustment services are a responsibility of the claims function.

Insurance

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

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