Claims & Insurance
Assignment of benefits
An agreement that lets the policyholder assign the right to collect payment for a covered loss to a contractor. The contractor then deals with the carrier directly. States regulate these agreements and some restrict them, so the form and its disclosures have to be handled carefully before work begins.
Common questions
What does "Assignment of benefits" mean in Xactimate estimating?
An agreement that lets the policyholder assign the right to collect payment for a covered loss to a contractor. The contractor then deals with the carrier directly. States regulate these agreements and some restrict them, so the form and its disclosures have to be handled carefully before work begins.
Where does "Assignment of benefits" show up in a claim?
The term matters on estimates and scopes across the insurance restoration workflow. Browse the glossary for related terms.
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