Settlement Calculation Agent

A settlement figure must apply limits, deductibles, depreciation, prior payments and any co-insurance in the right order, and one wrong step means overpaying or a complaint. Once loss items are approved, this agent reads the policy terms and payment history, then applies depreciation, the deductible and section limits in the order the policy sets. It builds a settlement worksheet that shows each step, so the adjuster can follow the math line by line. It then checks the total against every limit and against payments already made. If the total breaks a limit or does not add up, it finds the step that went wrong, corrects it and recalculates. The adjuster approves the settlement before any payment is requested; the agent never requests payment itself. Edge case: on replacement cost claims, recoverable depreciation is held back until proof of replacement arrives.