Which party generally holds the responsibility of cooperating in settling a loss?

The insured typically bears the responsibility of cooperating in settling a loss because they are the party most directly affected by the loss. As the individual or entity that has suffered a loss, the insured has a vested interest in the claims process and ensuring that their claim is accurately assessed and resolved.

The insured is required to provide the insurer with relevant information and documentation regarding the loss, which may include details such as the circumstances of the incident, evidence of the damage, and any other pertinent records. This cooperation is essential for the insurer to evaluate the claim fairly and determine the appropriate compensation.

While the insurer is responsible for processing the claim and the agent plays a role in facilitating communication, it is ultimately the insured’s responsibility to engage in the process actively. Beneficiaries, in this context, typically receive benefits from insurance policies but are not directly involved in the loss settlement with the insurer.