Page 284 - Fire Insurance Ebook IC 57

Fire and Consequential Loss Insurance

subrogation proceedings.

i. Final assessment of loss - In case of simple cases,
thesurveyors have to mentionthe amount of lossoriginally
claimed by the insured and the amount now
recommended after discussion and negotiation with the
insured. Reference to the salvage value, if any is also to
be made, and method of disposal to be mentioned.

In the cases where the buildings or machineries have
suffered extensive damage, this section would provide
detailed information, cost of replacement or repair,
expenses incurred by the insured in fire
extinguishment, the salvage value, under insurance
and 'excess clause', if any, and the net loss suffered
by the insured. Reference is also made to the cost of
debris removal, architect's fees, if any, under the
policy, and its extension. These actual expenses are
reimbursable subject to availability of limits.

The surveyor's fees and other expenses are indicated
separately. This is followed by recommendations to
issue the cheque in favour of the insured, joint names
Sashi Puobfliaclaltitohnesin- swuwrewd.s, athsheipnuabmliecaotfiotnhse.cboamnk or financ2i9a7l
institutions etc.

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