Page 9 - MPRC Collateral (8.5 × 11 in)
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LOI Loss of Income.
A public claims adjuster is a professional, licensed by the department of insurance. They serve as an
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advocate for the policyholder against their own insurance company throughout a property damage
claim process.
PROOF OF LOSS – A formal statement made by the insured to the insurance company regarding a loss. The
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purpose of the proof of loss is to place before the company sufficient information concerning the loss to
enable it to determine its liability under the policy.
RCV REPLACEMENT COST – The cost of replacing property without deduction for depreciation.
