Insurance Finance registry
Claim — Payment
Cash settlement of contractual claim liability.
Canonical Definition
The monetary settlement made to the insured (or a third party on the insured's behalf) in discharge of contractual liability for a covered loss.
Business Impact
What happens when different meanings of Claim — Payment are used in parallel.
Operational Risk
Cash forecasting, Solvency II QRTs, IFRS 17 disclosures.
Governance Metadata
This definition is governed. Not merely documented.
- Owner
- Group Financial Controller
- Status
- aligned
- Version
- v2
- Effective Date
- 2026-03-15
- Source
- Finance Procedure FP-12
- Domain
- Insurance Finance