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CLAIMS-PROCEDURAL ASPECTS

on receipt of a claim intimation the first step Is to verify that the policy is in force, the perils covered under  the policy are the same as the perils under which the loss Is reported. there after the claim is registered and a claim number allotted. this number is used in all future correspondence for easy reference. the claim register contains the details of the claim number, date of fire the policy number.
after registration of the claim a claim form is issued to the insured for completion and return . the claim elicits the following information.
1)     name of the insured policy number and address
2)     date , time, cause and circumstances of the fire or the occurrence of other insured peril.
3)     details of damaged property
4)     if any other insurance is in force upon the property
if the loss is known or expected to be large then licensed independent loss surveyors and assessors are assigned the job of investigation and report on inter alia the cause an detent of loss, therefore a final report is submitted giving full details of the adjustment of the loss and the surveyor opinion on the question of liability under the policy. in case the insured immediately on occurrence of the loss exercises his option not to reinstate the sum insured the sum insured shall stand reduced by the amount of loss. there may be losses which have occurred but not intimated to the insurers. it is equally necessary that these are estimated and provided for in the accounts.
SURVEYS
the surveyor’s primary duties are to:-
1)     investigation into the cause of loss
2)     ascertain the extent of loss
3)     advise the insured on loss minimization measures and protection of salvage
4)     advise the insurers on disposal of salvage
5)     submit a detailed report on the above and ither aspects relating to the loss.
sonali
sonali
Name10-Jun-2015
Name654
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