Which document is the formal written statement of a claim submitted by the policyowner after a loss?

• A. Notice of Loss
• B. Proof of Loss
• C. Claim Form
• D. Settlement Request

Answer: (B)

When a loss occurs, the insured must provide a formal, written statement that swears to the details and amount of the loss. This is the Proof of Loss. It serves as the official documentation the insurer uses to substantiate, assess the damages, and determine how much will be paid under the policy. It typically includes the specifics of what was damaged or lost, the cause, the date of loss, and a specified dollar amount, often sworn under oath and accompanied by supporting evidence.

This differs from a notice of loss, which is simply notifying the insurer that a loss has happened and may be required promptly after the event. A claim form is usually the initial document the insurer provides to start the process, gathering basic information about the incident. A settlement request isn’t a standard term for the formal claim documents used in most policies.

So the formal written statement of the claimed loss, including the amount and details, is the Proof of Loss.