Page 257 - Fire Insurance Ebook IC 57

The Insurance Times

(c) Settling coinsurance claims - When the insurance
is on a co-insurance basis, the surveyor is appointed
by the leading office. Each co-insurer is sent a
preliminary advice of the claim, followed by a copy
of the final survey report which would indicate the
'apportioned' amount of the loss among the co-
insurers who would send the cheque for his share of
the loss, directly to the claimant.

Alternatively, the leading office can also sometimes settle
the entire loss and recover the expenses and
proportionate shares of the loss from the co-insurers.

Q2. Discuss the process of receipt of claim,
processing and final settlement.

Ans. The process after receiving a claim, then
processing and final settlement involves several
steps:
(a) The first step involves checking whether (i)
olicy is in force, (ii) the perils covered under the
policy and the perils reported are identical, (iii) the
items affected and the location involved are the

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