What does 'Onus of Proof' require from a claimant?

The concept of 'Onus of Proof' places the responsibility on the claimant to provide sufficient evidence to support their claim. This means that the claimant must demonstrate that an insured peril, which is a risk or event specifically covered by the insurance policy, has occurred and this event has directly resulted in a financial loss. The requirement to establish both the occurrence of the insured peril and the amount of the loss is fundamental, as it determines whether the insurance provider is liable for compensation.

This principle is crucial in the claims handling process, ensuring that the insurer can assess the validity of the claim based on clear, substantiated evidence rather than assumptions or incomplete information. In doing so, it adheres to the contractual obligations set forth in the insurance policy, which requires that claims be backed by proof.

While the other options may involve aspects relevant to the claims process, they do not directly address the specific requirement outlined by the 'Onus of Proof'. Proof of compliance with legal regulations, a summary of past claims, and documentation of previous insurance policies do not fulfill the immediate need to establish that a covered event led to a financial loss that warrants an insurance payout. Therefore, the clarity and specificity of evidence regarding the insured peril and loss amount are what defines the claimant's