Which of the following in Not the flow of transaction through the claims cycle?
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A. B. C. D.B
The correct answer is A. Quick-tail lines claim acceptance.
The claims cycle is a series of steps involved in processing and settling an insurance claim. It typically involves the following steps:
Reporting of the claim: This is the first step in the claims cycle. The policyholder reports the claim to the insurer.
Claim investigation: The insurer investigates the claim to determine its validity.
Coverage determination: The insurer determines if the claim is covered under the policy.
Loss reserve evaluation: The insurer evaluates the potential amount of loss associated with the claim and sets aside a loss reserve to cover the potential payout.
Claim settlement: The insurer and the policyholder agree on a settlement amount.
Payment: The insurer pays the agreed-upon settlement amount to the policyholder.
Option A, "Quick-tail lines claim acceptance," is not a step in the claims cycle. It is not a term or process that is commonly used in the insurance industry. Therefore, it is the correct answer to the question.
Option B, "Insurance underwritten," is a process that occurs before the claims cycle. It involves the insurer evaluating the risk associated with a potential policyholder and determining the terms of the insurance policy.
Option C, "Claim settlement," is a step in the claims cycle, as mentioned above.
Option D, "Loss reserve evaluation," is also a step in the claims cycle, as mentioned above.
In summary, the correct answer is A because it is not a step in the claims cycle, and the other options are steps in the process.