After receiving proof of loss, how soon must an insurer notify the insured regarding the intent to repair or replace?

In North Carolina, after an insurer receives a proof of loss from the insured, the insurer is required to notify the insured of its intent to repair or replace within a specified timeframe. The correct timeframe is 14 days. This requirement is designed to ensure a prompt response from the insurance company, allowing for timely repairs or replacements, which can mitigate further damages and assist the policyholder in returning to normalcy.

The law aims to protect insured individuals by holding insurance companies accountable for their timely communication, ensuring that there are no unnecessary delays in the claims process. The 14-day period is an important aspect of the claims process that delineates the expectations for both the insurer and the insured, facilitating better customer service and adherence to regulatory standards in the insurance industry.