When must proof of loss be submitted by the claimant?

The requirement for proof of loss to be submitted within 90 days of the loss is aligned with the standards generally established in insurance policies. This timeframe is deemed reasonable to ensure that insurers can promptly evaluate claims and maintain accurate records. The 90-day period allows claimants sufficient time to gather necessary documentation and submit it, while also facilitating a timely response from the insurer concerning the claim's status.

Submission deadlines that are significantly shorter, such as 60 days, may not provide enough time for claimants to compile the required information, potentially leading to unnecessary hardships. Conversely, longer timeframes such as 120 days or 1 year could delay claims processing and ultimately contribute to inefficiencies within the insurance system. The 90-day benchmark strikes a balance, ensuring that both the claimant and insurer can manage their respective responsibilities effectively.