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event delays

M

mattt78

Member
what is an event delay?

is this separate from the reporting delay, and the settlement delay?
 
Example:

Time 0: When your home fence fell down.
Time 1: When you notice it when you get home.
Time 2: When you report to your insurer.
Time 3: When your insurer pays you.

Time 0 to 1: event delay.
Time 1 to 2: reporting delay.
Time 2 to 3: settlement delay.

Please correct if it is wrong. Thanks!
 
great, thats what I thought - it's just not a very clear name - they should be called 'noticing delays' or something ;)
Thanks!
 
Yeah, but 'noticing' delay might get confused with 'notification' delay, which is another name for reporting delay...
 
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