Page 270 - Fire Insurance Ebook IC 57

Fire and Consequential Loss Insurance

insurance and the amount of loss that it has
suffered. The surveyor fixes this value by
inspection and examination, when the property is
evident.

(ii) Remains of the property after the fire and the apace
it occupies provide some evidence indicative of
value. By inspecting the damaged property and
comparing it with its condition before the loss and
after the loss, the surveyor forms an opinion about
the value of loss, the nature and extent of loss.

(iii) The condition of the property provides some
evidence to the surveyor about its sound value and
the amount of loss. For e.g, for buildings,
measurements and construction, for stock, count,
weight, weight and measurement, etc.

(iv) The surveyor can get reliable information and
evidence from records,which show quantities, cost,
age, history or conditions. For e.g, financial records
consist of inventories, purchases, and sales in terms
of money, quantity records consist of stock books
and so on.

Q9. Discuss the process of loss assessment by a

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