Question

An example of an Unfair Claims Settlement Practice would be:

O requesting a third-party arbitrator to resolve a
disagreement

O paying a claim promptly after receiving proof of loss

O requiring the insured to give a statement under oath

O denying an insured's claim without indicating the basis
of denial

Answer 1

An example of an Unfair Claims Settlement Practice would be denying an insured's claim without indicating the basis of denial.

Step-by-step explanation:

An example of an Unfair Claims Settlement Practice would be denying an insured's claim without indicating the basis of denial. This practice is considered unfair because it fails to provide clear and transparent information to the insured, preventing them from understanding the reason behind the denial and potentially challenging it. It can lead to an unfair distribution of benefits and goes against principles of fairness and accountability in insurance.