Understanding Loss Drafts

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1.
A _ is an insurance claim check issued to pay for damage to a property
2.
is a detailed assessment of everything the adjuster during their investigation of the damages
3.
The actual cost to replace a structure at its preloss condition
4.
The value of the damaged structure at the time of loss
5.
The value of the property lost over time due to wear and tear
6.
The amount the insured
7.
A _ represents the borrower throughout the claim process
8.
A _ puts together the Adjuster's Report for the insurance company
9.
The process in which we endorse the check and send it back to the borrower.
10.
The process in which the claim check is deposited into the client's restricted escrow account and releases funds throughout the process
11.
The account that holds the claim funds for the Loss Draft Department