use of the claim

Misleading claims The Commission has published guidance on the implementation of the Regulation.It states that emphasising properties that have no bearing on the total intake of the nutrient in question is considered misleading. For example, use of the claim “reduced fat” in bread, …

claims of mental

Non-Physical Injury or Sickness Prior to the amendment of August 20, 1996, the Service and the courts consistently interpreted IRC  104(a)(2) as providing an exclusion for damages received in connection with claims of mental and emotional distress which arose from non-physical injuries. Examples …

punitive damages

punitive damages Generally, punitive damages are not awarded for simple breach of contract or negligent tort.They are added to any compensatory damages where the defendant acted recklessly, with malice or deceit, or in any other manner that would justify penalizing the wrongdoer or …

Lawsuit Payments

Taxability of Lawsuit Payments General rule relative to taxability of amounts received from lawsuit settlements is IRC that states that all income is taxable from whatever source derived, unless exempted by another section of the Code. Terminology/Definitions Types of Claims Tort: -A civil …

lawsuit verdicts

lawsuit claims The following determinations should be made when reviewing lawsuit verdicts and settlements received after August 20, 1996. -Determine if any taxable lawsuit, award or settlement proceeds are unreported. -Determine if proper amounts were allocated between compensatory and punitive damages. This is …

claims department

When the damage is assessed through a written estimate made on behalf of the insurer, the insurer sends the policyholder/claimant/beneficiary a copy of the document used to set the amount of compensation. General issues: − A company’s claim procedures are gathered together in …

process the claim

 Claims files and procedures Once a claim has been filed and, when applicable, after any additional documents that are required to process the claim have been received, the file established by a company contains the following documents: − Claim filing number; − Policy …

insurance claim

Considering that such good practices provide a checklist which can be recommended to insurance companies and public authorities in the field of insurance claim management, while other appropriate ways to handle claims management may exist and may already be reflected in a country’s …