Claim

22 May Claim

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A request for monetary compensation for a loss. A claim typically arises from the terms of an insurance contract. There are two types of claims. A first-party claim is one in which the policyholder reports the claim directly to the insurance company. A third-party claim is one in which a person makes a claim against the policyholder of another company. In a third-party claim, payment if any, is made by the first-party insurer.

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