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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The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.

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