Insurance 101 – Chapter 8 – Volume 56 – Accrual

Accrual

The point of accrual requires knowledge of the facts essential to the cause of action, not knowledge of the legal theory supporting the cause of action. “Actual knowledge” is  knowledge “of such information as would lead a reasonable person to inquire further.” Plaintiffs are required to exercise reasonable diligence in discovering the relevant circumstances of their claims. They are judged on an objective standard that does not reward denial or self-induced ignorance.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

 

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