Proof of Loss

A Proof of Loss is a formal statement submitted by a policyholder to an insurer, detailing the nature and extent of a loss or damage and the amount of compensation being claimed under the insurance policy. The proof of loss typically includes a description of the incident, an itemized list of the damages or expenses incurred, and any supporting documentation or evidence. The purpose of the proof of loss is to provide the insurer with a clear and complete picture of the claim and to establish the policyholder’s entitlement to coverage. Insurers may require policyholders to submit a proof of loss within a specific timeframe after the incident or loss occurs.