Deductible: Difference between revisions

Third-party [[legal liability|liability]] coverages including auto liability, general liability, garage keepers, inland marine, professional liability and workers compensation are also written with deductibles. These deductibles on commercial liability policies are known as third party deductibles or liability deductibles. Because the insured and claimant are not the same entity, insurers cannot pay the claim minus the deductible. This creates a receivable owed from the insured to the insurer. Due to the complexity of identifying these third party deductible receivables, many are often missed by the insurer causing millions of dollars to go uncollected.<ref>{{cite news |first=Joseph |last=Warnagiris |authorlink= |title= Collecting Third Party Deductibles |url=http://www.propertycasualty360.com/2009/02/02/collecting-third-party-deductibles|work=|publisher= Claims Magazine |date= February 2009|accessdate=}}</ref>

 

 

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