Page 99 - Insurance Surveyors Book Ebook IC S01

Survey And Loss Assessment IC-S01

The main issues of interest in a report for an insurer are :

a) Cause of loss vis-a-vis insurers liability under the policy conditions and

exclusions / exceptions)

b) Breach of warranties.

c) Methodology of gross loss assessment, and details of verification of related

documents and proofs thereof.

d) Details of loss adjustment, in general and adjustment basis / methodology

used for computing depreciation, salvage recovery, and valuation of loss at

risk, in particular.

e) Concluding remarks on liability, loss minimisation measures

Depending on the type, nature and extent of the reported loss, location and

circumstances under which the loss has taken place, the insurer may instruct the

surveyor to carry out:

 Spot survey

 Preliminary survey

 Final survey

 Joint survey

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