NON-LIFE CLAIMS PROCEDURE
Claims administration essentially conforms to the following procedure.
There must be a formal notification of any event that is likely to give a rise to a claim under the policy, promptly or immediately. This could be done in writing, verbally or via phone, and must conform to the requirement in this regard as stated in the policy.
PROOF OF LOSS
The insured is also expected to prove that he has actually suffered a loss, and this is done by way of documentation. The level and nature of documentation depends on the class of business. Failure on the part of the claimant to prove his loss convincingly or satisfactorily within a reasonable time may lead to repudiation of liability.
The process entails, registration of claims, acknowledgment of notification, determination of the existence of insurance cover, appointment of assessor(s)/loss adjuster(s), review of the reports submitted by assessors/adjusters, admission or repudiation of the claim.
Admitted claims proceed to the stage of making an offer and eventual settlement.
BASIC DOCUMENTS REQUIRED FOR VARIOUS NON-LIFE INSURANCE CLAIMS
|MOTOR-THEFT||GROUP PERSONAL ACCIDENT/WORKMAN’S COMPENSATION|
|MOTOR THIRD PARTY||FIRE|