Page 254 - Fire Insurance Ebook IC 57

Fire and Consequential Loss Insurance

Process of surveying and loss Assessment

(a) The surveyor thoroughly examines the policy to ascertain the
scope of coverage

(b) Inspect the scene of loss and examination of the property
destroyed or damaged and of undamaged property to determine
the cause of loss and extent of loss, to render advice to the insured
to take loss minimisation measures and to decide on measures to
protect salvage.

(c) Examination of books of accounts and other records in the
possession of the insured to arrive at the values of the property
insured and the property destroyed or damaged.

(d) Examination of other records or reports covering the occurrence
of the loss (e.g. fire brigade report, Salvage Corps Report, etc.)

(e) Preparation and submission of preliminary, interim and final reports.

Final survey report

There is no standardised survey report form and each surveyor uses
his own format for submitting report.

However, the final survey report generally consists of the following
items of information :-
n Description of therisk.
n Insurableinterest
n circumstancesand cause of loss
n description of damage
n Loss minimisation
n Average
n Breach of warranty
n Recovery from third parties
n Final assessment of loss

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