After receiving a properly executed proof of loss, how many days is the insurer required to accept or deny the claim?

In the context of insurance claims, after an insurer receives a properly executed proof of loss, they are typically required to respond within a specified time frame. In New York, the law mandates that insurers must either accept or deny the claim within 30 days of receiving the proof of loss. This regulation is in place to ensure that claimants receive timely communication regarding the status of their claims, which helps manage expectations and provides a sense of closure for those affected by the loss. The 30-day requirement also promotes a more efficient claims process, encouraging insurers to review and make decisions promptly. Understanding this timeline is critical for both insurance professionals and claimants when navigating the claims process.