What does Claims Department mean? Read on to discover the definition & meaning of the term Claims Department - to help you better understand the language used in insurance policies.
A claims department is the section of an insurance company that manages the settling of claims. Essential to any insurer, this department is tasked with evaluating whether or not losses are covered, determining the amount of money to be paid out for covered losses, investigating claims to make sure fraud is not occurring, and whatever else may be necessary in handling and processing claims.
We hope the you have a better understanding of the meaning of Claims Department.