Once an insurer has all the mandatory info, the corporate should notify the insured, in writing, within 30 days of the preliminary claim, of its approval or denial. If a decision can’t be reached within that time, the insurer should clarify why extra time is required. The insurance company then has a further 45 days to just accept or reject a claim. If a claim is permitted, the insurance company must pay the profit inside five days of the notified approval.

Our consumer was pressured to leap overboard to avoid even worse harm and demanded compensation from his employer—who was in the end responsible for the accident. Insurance corporations are legally required to take care of claims promptly. Texas legislation requires that insurers acknowledge first-party coverage claims, launch investigations, and/or request additional data associated to the claim inside 15 days of receiving a filed claim.

What Is An Insurance Claim?