Effective ways to handle Claims

Do not make any payment, make any compromise, commitment or enter into agreement with any claimant without insurer’s approval.
Any agreement with any third party who have made or likely to make monetary claim /seek compensation from the insured arising out of alleged wrongful acts of insured without written approval from insurer.
As an emergency, engagement of advocates to defend their interest and the attached Cost incurred without insurer’s consent may be considered to pay by Insurer subject to the insured’s suitable explanation and the establishing the reasonability of the cost.

Whether the product is covered under the policy
Whether the quality control measures as prescribed is adopted
Whether manufacturing defect or deficient performance is noted in product is established
Whether specific instructions for use given by Insured.
Specialists/Experts determine whether product is defective.
Whether compromised settlement is worthwhile.
Recovery Rights , if any, are protected.
Whether Loss Minimization Measures are adopted like recall.

Intimate the loss to Insurer immediately
The appointed surveyor can visit the site at the earliest so as to certify the proof of loss.
Policies do provide condition stipulating time limit within which notification of claim is to be done.
Invite OEM/Turn Key Project personnel to inspect at the spot and submit preliminary report.
Arrange for a joint meeting between Surveyor and OEM representative to arrive at consensus on cause of loss and extent of damage.
Arrange for detailed estimate of damaged items,
Appeal for an on account/interim payment from Insurer for high value claims to mitigate financial strain in repair/reinstating the property.
Submit the Log book/ maintenance record.
Claim additional custom duty, air freight, overtime wages if incurred and covered.
Intimate Insurer/Surveyor of the completion of reinstatement/replacement
Carryout tests for civil construction losses if design defect/structural strength becomes issues.
Submit proof for Replacement/Reinstatement
Lodge an FIR on theft/burglary losses at Insured premise/place.
Obtain a report from monitoring agency if appointed for mega projects.
You may obtain expert opinion to ascertain precise cause of loss with suggestion to prevent t and minimize if repeated losses reported on similar manner.
Submit the final claim bill along with supports like reinstatement/repair bills.

Do not avoid information to Fire Brigade/Necessary Authority.
Do not allow the property to get further damage if preventable.
Do not allow the water pumped out by fire brigade to stagnate .
Do not delay intimation of the occurrence to Insurer.
Do not give more information to Surveyor/Insurer/Investigator than what is material.
Do not initiate any action towards repairing/cleaning, etc till obtain consent from Surveyor/Insurer.
Do not dispose any material salved/damaged without obtaining prior approval from Surveyor/Insurer.
Do not engage un authorized repairers/replacements jeopardizing warranty/ AMC
Do not delay reinstatement/replacement exceeding time limits under replacement clause and it can be viewed adversely under BI loss.
Do not admit liability to any third party which may affect the claim and render Insured liable against recovery by subrogation.
Do not submit claim documents without scrutiny.
Do not delay in responding to any authorities requirements.
Do not delay in responding to Surveyor/Insurer