New York Independent General Adjuster Practice Exam

The correct answer is the notification of the settlement offer in writing, as this is not required within the specified timeframe of 15 business days. Insurers are mandated to take certain actions shortly after receiving a claim to ensure a timely and efficient claims process.

One of those mandates is to send a written acknowledgment to the claimant, which informs them that their claim has been received and is being processed. Additionally, insurers must begin the investigation of the loss, which enables them to gather necessary information and assess the details surrounding the claim. Furthermore, it is essential for the insurer to notify the claimant of any necessary items, statements, or forms needed to facilitate the investigation. These steps are crucial for maintaining communication with the claimant and ensuring that the claims process moves along without unnecessary delays.

In contrast, notifying the claimant of the settlement offer is not part of the initial requirements imposed by the regulations. This aspect comes later in the claims handling process, after the investigation has concluded and the insurer has determined the outcome of the claim. Thus, while it is an important step in the overall claims process, it does not fall within the 15-day requirement following the claim's receipt.