Ontario Automobile Supplement (OAS) Practice Test 2025 - Free OAS Practice Questions and Study Guide

The correct answer is that a Proof of Loss provides a detailed account to determine the insurer's liability. This document is crucial in the claims process because it outlines the specifics of the incident that caused the loss or damage, including the circumstances surrounding it, the extent of the loss, and any relevant supporting documentation, such as receipts, photographs, or repair estimates. This comprehensive information allows the insurer to assess the validity of the claim and decide on the appropriate compensation based on the terms of the insurance policy.

In contrast, a formal statement about the insured's health is not relevant to the Proof of Loss, as this document focuses specifically on loss or damage claims rather than health matters. A request for premium refund after cancellation pertains to different insurance policy processes unrelated to claims for loss. Additionally, a summary of the insured's driving history does not relate to the Proof of Loss, which is concerned with claims rather than driving records. Therefore, the key function of a Proof of Loss is to furnish the insurer with the necessary details to evaluate their obligation to pay the claimed benefits.