Question

State the following statement is True or False:

At the event of loss, insurance policy holders submit a claim.

• A. True
• B. False

Answer 1

The correct option is A True

The policy issued to the policyholder is a promise of assistance at the time of the uncertain incident(s) for which the policy has been issued. Once the event occurs, policyholder lodges a claim to activate the insurer’s response. If the claim is accepted, the insurer will fulfill the promise by reimbursing the money assured.