Question

An example of an Unfair Claims Settlement Practice would be: ?

a) requesting a third-party arbitrator to resolve a disagreement

b) prompt, fair, and equitable settlement of a claim

c) misrepresenting insurance policy provisions affecting a loss

d) requiring the insured to give a statement under oath

Answer 1

Misrepresenting insurance policy provisions affecting a loss is an example of an Unfair Claims Settlement Practice.

Step-by-step explanation:

An example of an Unfair Claims Settlement Practice would be misrepresenting insurance policy provisions affecting a loss.

This can occur when an insurance company provides false or misleading information about the coverage provided in the policy, which can result in an unfair settlement for the insured.

For example, if an insurance company misrepresents a policy provision regarding coverage for a specific type of damage, the insured may be unfairly denied compensation for that damage.