Denying a claim within 10 days of receipt of proof of loss is an unfair claims settlement practice.
Denying a claim within 10 days of receipt of proof of loss would be an example of an unfair claims settlement practice. This action goes against the proper process of investigating and assessing claims thoroughly before making a decision.
It is important for insurance companies to follow the guidelines and regulations to ensure fair treatment of policyholders.
Offering a quick settlement or suggesting negotiations are standard practices aimed at resolving claims efficiently and fairly.
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