Page 431 - IC38 GENERAL INSURANCE

CHAPTER 16

CLAIMS PROCEDURE

Chapter Introduction
At the core of any insurance contract is the promise made at the beginning i.e.
to indemnify the insured in the event of a loss. This chapter talks about the
procedures and documents involved, from the time loss takes place, making it
easier to comprehend the entire process of claims settlement. It also explains
the method of dealing with disputed claims either by insured or insurer.
Learning Outcomes
A. Claims settlement process
After studying this chapter, you should be able to:
1. Argue the importance of claim settlement functions
2. Describe the procedures for intimation of loss
3. Appraise claim investigation and assessment
4. Explain the importance of surveyors and loss assessors
5. Illustrate the contents of claim forms
6. Define claims adjustment and settlement

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