What is the maximum number of days an insurer has to review a claim after receiving all requested information from the policyholder?

The correct answer indicates that an insurer has a maximum of 15 business days to review a claim after receiving all requested information from the policyholder. This time frame is established to ensure that claims are processed efficiently and fairly, allowing insurers to perform a thorough evaluation of the claim without excessively delaying the policyholder's access to benefits.

The 15 business days also contribute to maintaining consumer trust in the insurance process, as it promotes timely communication and resolution. Adhering to this timeline encourages insurers to prioritize effective claim management and reinforces the importance of keeping policyholders informed about the status of their claims.

The specific number of days reflects regulatory guidelines that insurance companies must follow, aiming to protect the rights of consumers while allowing insurers to manage their resources effectively. This ensures that policyholders can expect a prompt response once they have submitted all necessary documentation, ultimately leading to a better claims experience.