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What formula do insurance companies use to compensate accident victims?
Wiki User
∙ 16y ago
Most states that I am aware of do not have a 'formula' to compensate accident victims, I belive that workers comp. etc, might, but all claims/injuries stand alone, and are investigated, evaluated on their own merit. You will be compensated the amount that is due to put you back in the place/condition you were prior to the accident, (subject of course, to exclusions/policy limits etc).
Wiki User
∙ 16y ago
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What basic formula is used to determine the total settlement amount that an insurance company will typically pay for an auto accident claim and bodily injury in Texas?
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Hi, In the insurance industry, companies are categorized as stock company or mutual company. When company want to become a public company (stock comapny), meaning having their shares of stocks listed to the public, they would have to demutualize. Since, mutual company, the owners of policies are technically consider owner of the company, when an insurance company wants to demutualize, they would have to compensate their clients with shares of stock. The number of stocks is determined with certain formula base on type of policy, premiums pay and age of policy. When it indicates Prudential Financial Demute Dov Cash NY, it has a high chance of being relation to the amount of stock or cash giving to compensate for the policyholders lost of ownership when Prudential demutualized. Truly, Jian Hi, In the insurance industry, companies are categorized as stock company or mutual company. When company want to become a public company (stock comapny), meaning having their shares of stocks listed to the public, they would have to demutualize. Since, mutual company, the owners of policies are technically consider owner of the company, when an insurance company wants to demutualize, they would have to compensate their clients with shares of stock. The number of stocks is determined with certain formula base on type of policy, premiums pay and age of policy. When it indicates Prudential Financial Demute Dov Cash NY, it has a high chance of being relation to the amount of stock or cash giving to compensate for the policyholders lost of ownership when Prudential demutualized. Truly, Jian
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