What is a Sworn Statement in a Proof of Loss and an Examination Under Oath?

If your client needs to file a commercial property damage claim, one of the earliest deadlines they will be presented with is to submit a “Sworn Statement in a Proof of Loss” (sometimes referred to as a “Proof of Loss”).

It’s a critical document that must include certain information, like the amount proposed as the total of the property damage claim. A Proof of Loss must be properly completed, signed by the insured, and notarized.

Make sure your client is aware that courts have upheld claim denials for merely failing to file the Proof of Loss on time! Harsh, but true, which is why your client needs to take proactive steps to stay in control of the insurance claim process.

A property damage claim is more than likely a foreign process to the insured, and while their insurance policy tells them what they need to do, neither the policy nor the insurance company tells them just how to comply with these obligations.

For instance, damages are documented using means and methods unique to the insurance industry. Not knowing how to work within these standard industry practices can cause a claim to be rejected, creating more work, longer delays and a lower financial recovery.

The solution? Hiring a licensed and experienced public adjuster.

We are independent property insurance claims adjusters who only represent your client, the policyholder. We precisely document all the damage (including loss of income), remain in constant communication with the insurance company, prepare all parts of the claim, and ensure deadlines are met on time.

We are an ally throughout the insurance claim process, helping your client avoid roadblocks and delays and prepare for curveballs, such as an Examination Under Oath (EUO).

As the policyholder, your client is obligated to submit to an EUO, which is a formal proceeding during which they will be questioned under oath on matters relating to the loss, claim, and coverage. This is conducted by the insurance company’s representative, most often counsel, and in the presence of a court reporter. This may be used by the insurance company if they detect a questionable claim which they are considering limiting or denying.

In any case, if your client is misrepresented during an EUO, doesn’t comply, or inadvertently conceals details about their claim, they may lose their insurance coverage!

A licensed public adjuster helps in several ways. First, we prepare a detailed claim, and present it in a way the insurance company understands so there isn’t room for unnecessary scrutiny — making an EUO unnecessary.

Secondly, in the event your client is obligated to submit to an EUO, a public adjuster can organize all relevant documents for the proceeding. We ensure you and your client have a thorough understanding of an EUO and what to expect from the insurance company’s representatives and/or counsel. We are the expert boxing trainer in your corner preparing you for the match, showing you the angles, and giving you the best moves.

For more of these expert moves and insight on property damage claims, download our free eBooks.

Blog Article by Stuart Dorf, JD — Senior Vice President of Business Development/Marketing, Globe Midwest Adjusters International

For over 94 years, Globe Midwest Adjusters International public adjusters have successfully represented thousands of clients and secured billions of dollars in settlements for policyholders in Michigan, Illinois, Wisconsin, and throughout the Midwest.