Question

When an insurer receives a proof of loss, it must respond either with a written offer to settle or a rejection of the claim within how many days of receiving the proof of loss?

1) 60 day
2) 90 days
3) 15 days
4) 30 days

Answer 1

An insurer is typically required to respond to a proof of loss with a settlement offer or a claim rejection within 30 days, but timeframes may vary by jurisdiction and policy terms.

Step-by-step explanation:

When an insurer receives a proof of loss, the typical requirement is that the insurer must respond with either a written offer to settle the claim or a rejection of the claim within a certain number of days. While specific timeframes can vary by jurisdiction and the terms of the insurance policy, a commonly cited period is 30 days after receipt of the proof of loss. However, it's important to consult the applicable insurance regulations or the specific insurance contract to determine the exact timeframe required for a response in a particular case.