Page 260 - Fire Insurance Ebook IC 57

Fire and Consequential Loss Insurance

policy, etc.

For larger cases, reinsurers are also informed.
After completing his initial investigation, the
surveyor has to submit a preliminary report. This
report provides independent evidence regarding
the cause and the extent of loss and also certifies
the compliance maintained by the insured, of policy
conditions and warranties. Thereafter, he has to
submit a final report giving full details of the
adjustment of the loss and the surveyor's opinion
on the question of liability under the policy.

(e) The final report is then scrutinized along with the
other relevant documents. If everything is in order,
then only the 'discharge voucher' is sent to the
insured for his acceptance and signature. Once the
insured returns the signed discharge voucher, the
cheque is then prepared.

Usually it is drawn in favour of the insured person

or persons, or any other banks or financial institutions

if the policy contains ' Agreed Bank Clause'. Before

releasing the cheque, the payment is recorded in

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