What could trigger the claims process in casualty insurance?

The claims process in casualty insurance is initiated by an incident resulting in a loss. This could be anything from a car accident causing bodily injury or property damage, to theft or vandalism resulting in a financial loss for the insured. When a covered incident occurs, the policyholder has the right to file a claim with their insurance provider to seek compensation for the losses incurred. This action triggers the insurer to evaluate the claim, investigate the details surrounding the incident, and determine the amount of compensation due based on the policy's terms.

In contrast, while a policy review is important for understanding coverage, it does not initiate a claim. Similarly, missing a premium payment does not trigger a claim; rather, it may lead to policy cancellation. Lastly, a decrease in policy coverage refers to alterations made to the insurance contract, which does not generate a claim in and of itself. Therefore, the occurrence of a loss due to an incident is the key factor that initiates the claims process.