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Glossary
Claims

Expert

Technician who assesses the cause, extent, and amount of the damage. Each party may appoint their own.

In practice

The insurer's expert works for the insurer; having another who works for the company is not distrust, it is symmetry. In industrial claims, the difference between both valuations is usually greater than the excess.

Where it is addressed

This term is covered in Siniestros and applies when taking out Gestión de Siniestros.

Related terms

Contradictory appraisalProcedure provided by law when the insured and insurer disagree on the valuation: each party appoints an expert and, if there is no agreement, a third is appointed.SalvageUrgent measures to prevent further damage and also the salvageable remains after the claim.ClaimEvent foreseen in the policy whose occurrence gives rise to the obligation to indemnify. The insured must report it within seven days of becoming aware of it.Mitigation of damageObligation of the insured to take measures to reduce the consequences of the claim.Legal defenceGuarantee that covers the costs of lawyer, solicitor, and experts to defend the insured or claim on their behalf.Insurer's default interestSurcharge imposed by law on the insurer who does not pay or deposit the compensation on time: the legal interest increased by fifty percent and, after two years, never less than twenty percent.
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