Engineering all-risk insurance is one of the General insurances which consider economic safeguarding, the risks faced at any ongoing project, installation project, and machines and equipment used at the project site. The following steps are to be followed for filing a claim under the engineering all-risk insurance policy
Intimate the office:
The first step is to immediately inform the concerned office and write a letter mentioning in detail, the incident, and the insurance policy number.
Intimate the insurance company:
Post-acquisition of the claim from the concerned office should submit further information to the insurance company responsible for the same.
Information pertaining to bigger losses:
In the case of bigger losses at the site, should send the prior information to the concerned insurance company. The insurance office thereafter conducts supervision in order to rightly assess the loss and make the future recovery of the losses.
Submission of documents:
Should submit photocopies of all necessary documents to the company to justify the claim.
Cooperation with the surveyor:
It is an absolute requirement for the claimer to provide the surveyor with all needs and cooperation. Failing which, the assessment of the loss either would remain incomplete or unidentified.
Complaint registration:
the claimer should file a complaint at the nearest Fire station, police station, or any civil law authority. This helps in ensuring proving a first quick action against loss.
Submission of identity proofs:
All documents pertaining to the claimer’s identity (licenses, permits, certificates, etc.) Should be provided to the surveyor.
Survey report acquisition:
The claimer should acquire at least one copy of the survey report to have a satisfactory perspective towards the survey conducted. This in return helps avoid discrepancies, if any.
Communication with the insurance company:
Once exchanged all documents, the claimer must stay in constant communication with the insurance company for the fastest action on the same.
Case for Claim Under Engineering All Risk Insurance
Suresh Tripathi is a builder and has bought engineering all-risk Insurance. He incurred losses at the worksite as a massive fire broke out. He would do the following to claim the insurance:
- Tripathi would immediately inform the concerned office and provide in writing the incident of the claim with the policy number.
- He will obtain the claim from the concerned office and also fill up the same at the insurance company.
- In case of bigger losses, Mr. Tripathi should submit the insurance company, and thereafter a surveyor would be sent to the site of loss and incident to acquire firsthand information of the same. This is done in order to minimize loss and settle the claim as early as possible.
- The surveyor or office may seek documentary evidence. You may hand over photocopies of necessary documents and obtain acknowledgment.
- Since Mr. Tripathi is the claimant, it is his responsibility to help the surveyor and provide him with honest facts to get the most from the claim. He should make all arrangements for the surveyor to gather information and help him take photographs.
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- Tripathi would also inform the nearest fire station, police authorities, and other civil authorities as per law and local practice. By giving the copies to the surveyor officer.
- Suresh must give the surveyor copies of licenses, permits, certifications, etc. in force to ensure that the operations are conducted as per law and as per the necessary safety standards.
- Would give a copy of the survey report to Suresh for his side of the assessment. For maintaining the transparency of the claim.
- Once shared all copies and documents pertaining to the survey are, then Suresh must stay in touch with the insurance company for the earliest disposal of the claim.
About The Author
Shivani
MBA Insurance and Risk
She has a passion for property insurance and a wealth of experience in the field, Shivani has been a valuable contributor to SecureNow for the past six years. As a seasoned writer, they specialize in crafting insightful articles and engaging blogs that educate and inform readers about the intricacies of property insurance. She brings a unique blend of expertise and practical knowledge to their writing, drawing from her extensive background in the insurance industry. Having worked in various capacities within the sector, she deeply understands the challenges and opportunities facing property owners and insurers alike.
