Strategies, Challenges, and Answers

Late Notice Bars An Insurance Claim Only If The Carrier Can Prove Prejudice

Insurance carriers want the earliest possible notice of any claim.  Investigation of the claim will be most effectively done while memories are fresh and evidence is available.  In addition, an insurance company must financially account and plan for its expected losses by setting proper financial reserves.  So it is no wonder that virtually all insurance policies include provisions that obligate the insured to place the carrier on notice of a loss as soon as practicable.But what happens when … [Read more...]