Mataracy
VIP Contributor
DID INSURER REALLY NEED PROOF OF LOSS BEFORE THEY ACCEPT THE LOSS FROM INSURED?
Some time when we look at this we might say since the insured has complain that he or she made a Loss on any thing that the next thing to do is to come to the aid of that insured person .
Following the notification, the insured must supply the details or particulars of the loss to the loss to the Insurer . Indeed the burden of the proof of loss rests solely on the shoulders of the insured who has to convince the insurers with supporting documents or evidence to show that he is entitled to claim under the policy. In fact, he has to satisfy the insurer not only that a loss has occurred, but also that it is a loss covered by an insured peril, and if he fails to prove the loss, his claim is bound to fail.
In fairness, the insurer should be open and unbiased when the insured is proving the loss. If the insurers discovers that the insured is privy to the loss, they have to prove it. In this case the burden of proof will shift to the insurer. Indeed, it is vital that the insured supplies correct t facts or the true position in filling the claims firm or by any other method of substantiating his claim..
I think we can see how the proof of Loss is very important to insurance company.
Some time when we look at this we might say since the insured has complain that he or she made a Loss on any thing that the next thing to do is to come to the aid of that insured person .
Following the notification, the insured must supply the details or particulars of the loss to the loss to the Insurer . Indeed the burden of the proof of loss rests solely on the shoulders of the insured who has to convince the insurers with supporting documents or evidence to show that he is entitled to claim under the policy. In fact, he has to satisfy the insurer not only that a loss has occurred, but also that it is a loss covered by an insured peril, and if he fails to prove the loss, his claim is bound to fail.
In fairness, the insurer should be open and unbiased when the insured is proving the loss. If the insurers discovers that the insured is privy to the loss, they have to prove it. In this case the burden of proof will shift to the insurer. Indeed, it is vital that the insured supplies correct t facts or the true position in filling the claims firm or by any other method of substantiating his claim..
I think we can see how the proof of Loss is very important to insurance company.