Apple told me the entire process is handled by the third party company, and they described a claims process, one not unlike what you would incur when you are in a car accident.
AIG decides if your claim is valid (which takes time), and they decide what the fee is. I -thought- it was supposed to be $150 per incident, but Apple claimed they could not provide that figure because it may be different than that. I asked if it was possible the fee could be $500, the rep laughed and 'assured me' it would not be $500.
Then i asked, what about $300? can you assure me of that? and the laugh turned to a nervous gulp and a confirmation she could not assure me of any number. So I think I made my point.
She then explained after the claims process they would then have to ship your device, and they dont offer overnight options for replacements.
So yah, sounds like in a golden path scenario, your lookin at 5-10 biz days, maybe longer if hiccups along the way. Hell, maybe never if its deemed that your claim is rejected!
Im gonna cancel theft and loss.