Claims

Claims
Loss reporting, adjustment, valuation, settlement, and recovery terms.
Actual Cash Value
Valuation basis that usually reflects replacement cost less depreciation.
Betterment
Betterment in Canadian insurance claims: how repairs can improve property beyond its pre-loss condition.
Claim
Claim in Canadian insurance: how a claim starts the process of asking the insurer to respond under the policy.
Claims Adjuster
Claims adjuster in Canadian insurance: how adjusters investigate, value, and help resolve claims.
Notice of Loss
Prompt claim reporting before investigation and coverage review begin.
Proof of Loss
Formal loss details and documents used to evaluate coverage and payment.
Replacement Cost
Property-loss settlement based on repair or replacement without depreciation.
Salvage
Salvage in Canadian insurance: how damaged property can retain residual value after a loss.
Settlement
How a claim is resolved through payment, repair, replacement, or agreement.
Subrogation
The insurer's right to recover from a responsible third party after payment.
Waiver of Subrogation
Waiver of subrogation in Canadian insurance: how recovery rights may be limited by contract or endorsement.