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Insurance Glossary

Third Party Claim

Claims

Definition

A claim made by someone other than the policyholder against the policyholder's insurance coverage, typically for liability. The third party is seeking compensation for injuries or damages caused by the insured.

Definición en Español

ES

Reclamo de Terceros

Un reclamo hecho por alguien que no es el asegurado contra la cobertura de seguro del asegurado, típicamente por responsabilidad. El tercero busca compensación por lesiones o daños causados por el asegurado.

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Related Terms

First Party Claim
A claim made by the policyholder directly to their own insurance company for coverage under their policy. Examples include collision coverage, comprehensive coverage, or property damage to the insured's own property.
Subrogation
The legal right of an insurance company to pursue a third party that caused an insurance loss to the insured, allowing the insurer to recover the amount of the claim paid to the insured. This right is transferred from the insured to the insurer upon payment of the claim.
Adjuster
A person who investigates claims and recommends settlement options based on estimates of damage and insurance policies held.
Claim
A formal request by a policyholder to an insurance company for coverage or compensation for a covered loss or policy event.
Arbitration
An alternative to going to court where a neutral third-party is used to settle a dispute between an insurer and a policyholder, typically regarding claim settlements or coverage interpretations.
Claimant
The person or business that makes a claim to the insured person or their insurance company, seeking compensation for damages or losses.
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