Within how many business days after completing its investigation must the insurer make an offer in writing or deny the claim in writing?

• A. 5 business days
• B. 10 business days
• C. 15 business days
• D. 20 business days

Answer: (B)

Timely settlement communication after investigation is tested here. Once the insurer finishes its investigation into a claim, it must communicate its position in writing within a specific window. In New York auto damage claims, that window is ten business days. This rule ensures prompt resolution, giving the insured a clear written offer and explanation of how the amount was determined, or a written denial with the basis for that decision. It helps prevent prolonged uncertainty and protects against improper delays in claim handling. The other timeframes are either too short to allow a proper review or longer than what the regulation requires, which would unnecessarily slow the insured’s ability to move forward with the claim process.