Property & Casualty Exam Prep 10, Conditions, Duties, and Proof of Loss

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The critical difference between giving a prompt Notice of Claim and submitting a formal Proof of Loss. - Why the insured's duty to protect property from further damage is a heavily tested concept. - How the timeline for submitting a Proof of Loss is triggered by the insurer's request, not the date of loss. - That cooperation with the insurer is a mandatory policy condition which can determine if a claim is paid. - A simple mnemonic to remember the five key duties of an insured after a loss: Prompt Notice, Protect Property, Cooperate, Inventory, and Proof of Loss. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep