An insurance plan in which the insured agrees to reimburse the insurer for a specified amount for each claim

An insurance plan in which the insured agrees to reimburse the insurer for a specified amount for each claim

• A. Mediation
• B. Insured Plan
• C. IBNR
• D. Deductible Plan

Answer: (B)

This statement describes a cost-sharing setup where the insured pays a fixed amount for each claim and the insurer covers the remaining costs up to the policy limit. That per-claim payment by the insured is how an insured plan is characterized in this context—the plan positions the insured to reimburse the insurer a set amount per claim, while the insurer assumes the rest of the claim cost. Mediation is about resolving disputes, not a type of insurance plan. IBNR relates to accounting for claims not yet reported, not to how costs are shared per claim. A deductible plan involves paying a deductible before the insurer covers the remaining amount, but the phrase “reimburse the insurer for a specified amount per claim” aligns most closely with the insured plan concept here.

This statement describes a cost-sharing setup where the insured pays a fixed amount for each claim and the insurer covers the remaining costs up to the policy limit. That per-claim payment by the insured is how an insured plan is characterized in this context—the plan positions the insured to reimburse the insurer a set amount per claim, while the insurer assumes the rest of the claim cost.

Mediation is about resolving disputes, not a type of insurance plan. IBNR relates to accounting for claims not yet reported, not to how costs are shared per claim. A deductible plan involves paying a deductible before the insurer covers the remaining amount, but the phrase “reimburse the insurer for a specified amount per claim” aligns most closely with the insured plan concept here.