What is a FAC short claim adjustment?

A FAC short claim adjustment refers to the process of modifying a claim for a short-duration insurance contract. It involves assessing liabilities for unpaid claims and claim adjustment expenses. The adjustments are made when insured events occur, ensuring accurate payments and correcting any mismatches in the payment schedule.

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To make a claim adjustment, you may need to complete specific forms like Ophthalmic 24 or Dental 283, depending on the nature of the insurance contract. These adjustments help maintain financial accuracy and ensure that claims are processed correctly. If you identify any errors in your claim, it's important to notify the appropriate authorities and provide the necessary documentation to make the adjustments.

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