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...
