Insurance 101 – Chapter 9 – Volume 40 – Accrual of Cause of Action

Accrual of Cause of Action

An insured who does not promptly report a claim to his or her insurer, shortly thereafter submit a sworn proof of loss within the time allowed by the policy (usually 60 days), or file suit within a year of the date will be forever barred from making a claim for that loss. White, supra and Basle, supra. The fact that the loss continues, and grows worse over the years, will not create a new “loss” such that the limitation period begins to run again.

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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