in insurance, a claim is made by an insured to insurer in connection with occurrence of an insurance event. In insurance practice, such claim is sometimes referred to as a “loss”. Establishment of facts and causes of an insurance event, amount of damage caused to insured property as a result of an insurance event, documentary payment of insurance indemnity is called satisfaction of claim or settlement of loss. A claim to an insurer may be made not only by an insured, but also by another legal entity or individual, in whose favor the endorsement on a policy is committed. Statute of limitations for claims submission arising from insurance terms and conditions is stipulated in a policy and is based, as a rule, on the current legislation of a country where a policy was issued. Concept of a claim may also include claims against a party responsible for occurrence of an insurance event – regress.