User:Claimsolve/sandbox

CLAIMSOLVE, INC. SANDBOX LETS PROVIDE INFORMATION TO THE WORLD ABOUT PROPERTY INSURANCE CLAIMS,

MAIN SUBJECTS CONSIST OF:

1. NFIP FLOOD INSURANCE POLICIES AND CLAIMS.

TERMS A. Proof Of Loss,

What is a proof of loss as it pretains to an insurance claim? An insurance policy is a contract, in which the insurer agrees to indemnify the insured policyholder for sudden and accidental covered losses in return for the policyholder’s agreement to pay a premium and comply with certain post-loss requirements. The filing of a proof of loss is one of these enumerated post-loss obligations, and it can be an essential condition for recovery, depending on how the policy is worded. It can be required under almost all types of insurance policies: property, life, health, and automobile to name a few and has been found in policies for hundreds of years. While the insured must notify the insurance company of a loss in order to begin the investigation, a proof of loss goes far beyond a mere notice. A proof of loss requires a formal statement of the claim, usually sworn with the notarized signature of the insured, and is designed to facilitate the investigation of the claim and enable the insurer to protect its interests. Specifically, the purpose of a proof of loss is to provide the insurer with specific information pertaining to the formal claim of damages. The policy will determine what must be in a proof of loss and most often includes: The amount of loss claimed; The documents that support the amount of loss claimed; The parties claiming the loss under the policy; The date and cause of the loss; and The people who have an interest in the claim.