Question

Which of the following period of time meets the definition of reasonable promptness as it pertains to an insurance company, under Regulation 919?
A: 5 daysB: 15 daysC: 20 daysD: 30 days

Answer 1

Answer:

The correct answer b) 15 days.

Explanation:

Insurance companies provide policies to insure belongings, property, or living things such as animals or people from unfavorable situations, for example, from an accident.

Insurance companies must meet a stipulated time to resolve a claim or other situation that the insured needs. The reasonable speed of an insurance company is 15 days, in which the insurer resolves the claims of its customers.

I hope this information can help you.