It depends. The law requires all claims to be paid in a “prompt and reasonable” manner. However, what constitutes “prompt and reasonable” could vary depending on the facts and circumstances of a claim. Claims that require extensive investigations will often take longer to process. An accident that caused severe injuries to more than one victim, for example, could take longer to settle than a simple fender bender where only one person received minor injuries.
Posted in: Insurance Settlements FAQs