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What is BMO InsuranceThe contract provides individual accident insurance, accidental paralysis and accidental death benefits to the Covered Person in accordance to its terms. It. A loss claim will only be paid if: � It was caused solely and directly by an accident and. � Occurs within days of the accident and. � Is beyond surgical or. BMO's insurance claims process is easy and straightforward. Need to make an insurance claim? We're happy to walk you through the process step by step.