Claim settlement is the process and outcome of determining and paying an insurance claim or otherwise resolving it. It may involve checking eligibility, assessing loss, applying a deductible, and obtaining necessary documents. Settlement can be full, partial, or a rejection with stated reasons.
A Nepalese claimant should request a written calculation showing how the payment was reached. Check deductions, sub-limits, and any release document before accepting the final settlement. If the outcome appears inconsistent with the insurance policy, use the insurer's grievance redressal process and retain a clear record of correspondence.