Claims Frequently Asked Questions
What are the duties of the Insured after a loss?
- Notification of Claim
- Provide all claims supporting documents
- Take steps to prevent further loss or damage
- Co-operate with the reasonable request from the Insured/Appointed engineer or loss Adjusters
How are the duties of the Insured after a loss?
- Every claim is treated on peculiarity and their complexity determine the settlement time. Straight forward claims are usually settled quickly.
- Our company expected to settle a claim after taking into consideration the adjusted the figure less policy excess or betterment as the case may be.
What is the Policy Excess?
Excess is the amount that the Insured is responsible to bear as per the policy terms and conditions in respect of each and every claim payable by the insurer.
What is betterment?
Betterment is a percentage imposed on a property when new parts are used for repairs of old parts by the insurance company. The Insured is made to bear the betterment(%) charges.