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exposure

English translation: exposure to incurring cost

03:37 Apr 12, 2017
English language (monolingual) [Non-PRO]
Law/Patents - Insurance / Insurance
English term or phrase: exposure
Context:

Negotiate Claims Settlement
Claims adjuster should be proactive in resolving claims in a timely manner to limit exposure and reduce frequency of litigation.

The adjuster should make a settlement offer that reflects the fair market value of a claim.
Nam Vo
Vietnam
Local time: 12:37
Selected answer:exposure to incurring cost
Explanation:
I don't think that the exposure is specifically to litigation, though that would be one way of incurring cost, or to risk, as the risk is what was insured and has, presumably, already been incurred by the insured party.

By "resolving claims in a timely manner", exposure to administrative and legal costs would be reduced and so would the amount paid out in settling claims, as customers would sometimes settle for a lesser amount in order to receive it promptly and without hassle.
Selected response from:

B D Finch
France
Local time: 07:37
Grading comment
Thank you very much! I appreciate it!!
4 KudoZ points were awarded for this answer



SUMMARY OF ALL EXPLANATIONS PROVIDED
3 +2exposure to incurring cost
B D Finch
2 +2legal liability
Jacek Kloskowski


  

Answers


37 mins   confidence: Answerer confidence 2/5Answerer confidence 2/5 peer agreement (net): +2
legal liability


Explanation:
IMO, resolving claims by offering fair settlement limits the possibility of a future lawsuit.

Jacek Kloskowski
United States
Local time: 01:37
Works in field
Native speaker of: Native in PolishPolish, Native in EnglishEnglish
PRO pts in category: 4
Notes to answerer
Asker: Thank you very much, Jack.


Peer comments on this answer (and responses from the answerer)
agree  Sheila Wilson
4 hrs
  -> Thank you.
agree  acetran
1 day 4 hrs
  -> Thank you.
Login to enter a peer comment (or grade)

6 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
exposure to incurring cost


Explanation:
I don't think that the exposure is specifically to litigation, though that would be one way of incurring cost, or to risk, as the risk is what was insured and has, presumably, already been incurred by the insured party.

By "resolving claims in a timely manner", exposure to administrative and legal costs would be reduced and so would the amount paid out in settling claims, as customers would sometimes settle for a lesser amount in order to receive it promptly and without hassle.

B D Finch
France
Local time: 07:37
Native speaker of: English
PRO pts in category: 9
Grading comment
Thank you very much! I appreciate it!!
Notes to answerer
Asker: Thank you very much!!


Peer comments on this answer (and responses from the answerer)
agree  Tony M
1 hr
  -> Thanks Tony
agree  Yasutomo Kanazawa
4 hrs
  -> Thanks Yasutomo
Login to enter a peer comment (or grade)



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