In order to file a marine insurance claim, it is necessary to submit the following documents by the policyholder –
- Duly filled original marine insurance policy or certificate
- Copy of billing lading
- Survey report/missing certificate
- Original invoice and packing list along with weight notes
- Copies of all the correspondence exchanged between you and the insurance company
- Claim bill
As a policyholder, it becomes necessary for you to inform the marine insurance company as soon as possible after the loss. In case you are not able to inform the insurer, you can ask your agent to do the same on your behalf. In case you have bought the policy from the broker, they can inform the insurer on your behalf, provided you informed them about the loss.
Even if you have specific transit insurance, the procedure will remain the same.
The insurer will then check to ensure that proper care was taken while transporting goods. In the case of any discrepancies found in transporting goods, the marine insurance company has all rights to reject the claim. Further, it is imperative to carefully fill the claim form with the facts as accurately as possible. A simultaneous claim requires to make with the shipping company to notify them of the loss/damage. It means you need to obtain a formal acknowledgement from both the marine insurance company and the shipping company.
Further, in case of theft and non-delivery of items, then requires to file an FIR along with submitting the above-listed documents.
Usually, there is a time window of one year for lodging a marine insurance claim from the date of loss. Though, it can vary as per the time.
Once the insurer receives the claim and appoints a surveyor who will visit the site and submit its report to the insurance company.
While filling your marine insurance claim, make sure to submit an invoice along with a packing list with a marine insurance certificate in case your goods become eligible for import cargo. Further, you will also need to submit a copy of your monthly declaration transit along with a car]rier’s consignment note.
In a situation where goods are completely damaged, partially missing, or completely vanished, you would require submitting a damage, shortage, or non-delivery certificate respectively. Along with this, you would require sending a copy of the discharge voucher along with a letter of subrogation.
Case in a marine insurance claim
Established in 2010, L.J Engineering exported a consignment of engineering items to a buyer situated in Sri Lanka. However, upon arrival of the cargo, the buyer refused to take the delivery of the consignment of engineering items. Claiming that the engineering items were rusted and not apt as per the contractual requirements.
In this case, L.J Engineering had specific transit insurance for its consignment. Therefore, the company approached the insurer for the claim settlement within ten days of the loss. In this case, the surveyor found that L.J Engineering did a good packaging of items, however, they came into the exposure of seawater and resulted in damage. In this case, the insurer asked L.J Engineering to submit the following documents in order to process the claim
- A marine insurance claim form duly filled and signed
- Original marine insurance policy or certificate
- Copy of billing lading
- Original invoice and packing list of items along with weight notes
- Claim bill
- Copies of the correspondence exchanged between you and the insurance company
As in this case, L.J Engineering had also filed a police report, the marine insurance company also asked for a copy of the police report or FIR. The insurer checked to make sure to take proper while transporting goods. Also, the insurer scrutinized the survey report submitted by its surveyor and settled the claim accordingly.