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Disaster Advice Glossary
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Disaster recovery and restoration can be veiled in mystery to the many who have not undertaken specific training. This glossary explains technical terms to assist both report writing and the understanding of those technical terms so often misunderstood.
Definition
| Adjustment: |
The means necessary to attain settlement or adjustment in claims paid by an insurance company or other party. An adjustment in a claim will require the contractor and/or adjuster to document the loss, type and extent of loss and determine repair or replacement cost value to which the claimant is entitled under the provisions of the policy after all allowances and deductions have been made. |
| Allowance: |
In insurance adjusting terminology, the costs allotted as a reimbursement, deduction or compensation by a contractor or insurer for some action or condition which exists at the property or a particular content. |
| Allowance: |
In material measuring and ordering, the variation from an exact measurement, taken for the purpose of anticipated material needs overage or minimum material costs. |
The Disaster Advice Glossary and its contents are the protected copyright of Disaster Advice
The Disaster Advice Glossary operates on TechMerit Technoloy.
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