TRIP Claims Management and Loss Control

Question 1

What is the primary goal of claims management in transportation?

Accepted Answer

Reduce loss and expedite resolutions

Answer

Delay settlements

Answer

Ignore minor incidents

Answer

Avoid insurance reporting

Question 2

What is a loss run report?

Accepted Answer

Summary of past claims and losses

Answer

Employee time log

Answer

Driver shift schedule

Answer

Traffic citation record

Question 3

Why is timely claims reporting important?

Accepted Answer

To facilitate fast and fair resolution

Answer

To reduce accounting errors

Answer

To avoid FMCSA audits

Answer

To defer liability

Question 4

What is the role of a third-party administrator (TPA) in claims handling?

Accepted Answer

Manages and processes claims

Answer

Provides legal representation

Answer

Drives delivery vehicles

Answer

Conducts driver background checks

Question 5

Which of the following is an example of a loss control strategy?

Accepted Answer

Using telematics to monitor drivers

Answer

Ignoring safety regulations

Answer

Increasing deductibles

Answer

Delaying maintenance cycles

Question 6

How does root cause analysis support loss control?

Accepted Answer

Reveals underlying issues for prevention

Answer

Blames the driver

Answer

Avoids insurance filing

Answer

Recommends cost increases