What is the purpose of an Interim (Status) Report?

The purpose of an Interim (Status) Report is primarily to document updates associated with the claim. This report serves as a tool for communication and tracking the progress of a claim, allowing adjusters, insurers, and other stakeholders to stay informed about any developments. It encompasses relevant information such as ongoing investigations, new findings, changes in the circumstances of the claim, and any actions that may have been taken since the last report. By doing so, it ensures that all parties involved are on the same page and can make informed decisions as the claim progresses.

In contrast, finalizing or settling claims is not the role of an Interim Report; those processes occur after all necessary evaluations and negotiations have been completed. Providing the first overview of the claim typically happens in an initial report, which outlines the basics of the claim and the situation at hand rather than focusing on ongoing updates. Thus, the primary function of the Interim Report is to keep all relevant parties updated about the status and progress of the claim.