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The Insurance Times

the values submitted to the police have to be compared
with those on the claim form. If the culprit can be
traced, the settlement of the claim may be delayed
until the prosecution proceedings are completed,
although settlement does not depend on prosecution.

If stolen property is likely to be recovered, close co-
operation with the police at all stages can ensure that
the insurers interest and rights in the recovered
property are recognised and protected.

The claim is processed on the basis of the information
on the claim form, the survey report, the police report
and the various vouchers, proof of ownership, and other
evidences submitted by the insured.

Q5. Write short notes on:

A) Facultative reinsurance -Under facultative
reinsurance, it's not obligatory for the ceding company
to cede to any particular accepting company nor is it
obligatory for the accepting company to accept the
ceding. The accepting company, at its own discretion

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