Describe the insurance based approach for the cost analysis of an accident in brief.

Word Count : 400

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Insurance-based approaches for cost analysis of accidents involve assessing the financial impact of an accident through the lens of insurance coverage and claims. Here's a brief overview of the steps and considerations involved in this approach:

1. Insurance Coverage Assessment:

   • Identify the insurance policies applicable to the accident, such as auto insurance, health insurance, property insurance, etc.
   • Determine the coverage limits, deductibles, and specifics of each insurance policy relevant to the accident.

2. Claim Processing:

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Degree : POST GRADUATE CERTIFICATE PROGRAMMES
Course Name : Post Graduate Certificate in Industrial Safety
Course Code : PGCINDS
Subject Name : Safety Philosophy and Principles of Accident Prevention
Subject Code : MIS 21
Year : 2023