West Virginia Property and Casualty Licensing Practice Exam

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Prepare for the West Virginia Property and Casualty Licensing Exam with our quiz. Use flashcards and multiple-choice questions with hints and explanations to enhance your preparation. Be exam-ready!

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After an investigation, how many working days does the insurer have to deny a claim in writing or make a written offer?

5 working days
10 working days
15 working days
20 working days

The correct answer is: 10 working days

The insurer is required to make a decision regarding a claim after completing an investigation within a specific timeframe to ensure timely communication with the policyholder. In this case, an insurer must deny a claim in writing or make a written offer to settle the claim within 10 working days. This requirement is in place to promote fair treatment of policyholders and maintain clear communication, enabling them to understand the status of their claims without undue delay. It reflects the regulatory emphasis on accountability and responsiveness in the insurance industry, making sure that the process remains efficient and transparent. Understanding this timeframe is critical for anyone involved in the property and casualty insurance field, as it underscores the legal obligations of insurers in claim handling processes.