Claim

A claim is a legal action to obtain money, property, or the enforcement of a right against another party. The legal document which carries a claim is called a Statement of Claim. It can be any communication notifying the addressee of alleged faulty execution which resulted in damages, often expressed in amount of money the party should pay/reimburse. There are several issues of concern when filing a statement of claim. Although to file a Statement of Claim is fairly straight forward, it is important it be done properly or you may lose your case due to a simple technicality. A Claim is a Legal statement made to alert the accused of the legal implications.

Insurance

Promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company.