10 terms defined in plain language
Humane destruction, subrogation, necropsy, notification requirements — key terms for filing equine insurance claims.
The individual or entity filing an insurance claim.
Euthanasia to prevent unrecoverable suffering. Covered by mortality insurance when authorized by the insurer.
Examination after death to determine cause. Insurers may require a necropsy for mortality claims. Typically paid by the insurer.
The timeframe within which the insured must notify the insurer of a loss or incident. Failure to comply can jeopardize claims.
The insurer's right to pursue a third party responsible for the loss after paying a claim. The insured must cooperate with subrogation efforts.
A total or near-total loss, such as death of a high-value horse, barn fire destroying multiple horses, or a liability judgment exceeding coverage limits.
Euthanasia performed without prior insurer authorization due to extreme, immediate suffering. Most policies permit this in genuine emergencies but the owner must demonstrate the emergency was real and immediate.
A single event or continuous exposure that causes injury or damage. Relevant to both medical (per-incident deductibles) and liability (per-occurrence limits) coverage.
The residual value of property after a loss. In equine insurance, relevant to Loss of Use (the horse has residual value for another purpose) and property claims (damaged equipment still has value).
Authorization from the policyholder allowing the insurer to obtain veterinary records. Typically signed as part of the claims process. Required for claims investigation.
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