Property Claims

 

Types of Property Claims

The following are some of the various property claims that are handled in our Claims Department.

• Flood
• Hurricane
• Earthquake
• Fire
• Vandalism
• Theft

Flood

A claim for Flood damages compensates the Insured for direct physical loss to the property insured. Flood means:

Overflow of the sea caused by earthquake, Volcanic Eruption, Tidal Wave or Windstorm

Overflow or deviation from their normal channels of either natural or artificial water courses, bursting or overflowing of public or private water mains, cistern or tanks, and any other low or accumulation of water originating from outside the building (s)

The bursting or overflowing of water tanks, cisterns, apparatus or pipes within the insured’s premises

 

Hurricane/Windstorm

A claim for Hurricane and/or Windstorm damages compensates the Insured for direct physical loss to the property insured. Accordingly, this peril does not include loss to the inside of a building caused by rain, sand or dust unless the direct force of wind damages the building causing an opening in a roof or wall and the rain, sand or dust enters through this opening.

 

Earthquake

A claim for Earthquake damages compensates the Insured for direct physical loss to property caused by earthquakes, including land shock waves or tremors before, during or after volcanic eruption. One or more earthquake shocks that occur within a seventy two hour period constitute a single earthquake.

 

Claim Process after a Flood, Hurricane/Windstorm or an Earthquake

• After a loss occurs, always try to do whatever is necessary to minimize the loss. Please ensure you protect any item(s) from further damage
• Do not throw away any damaged property until you are given instruction to do so from CIL
• Please report all losses to CIL. After a loss is reported, the claims handler will visit the site and take photos of the loss property and conduct a survey of the damaged buildings and/or contents
• You will be required to complete a Statement of Claim and provide an Inventory of Items to our office, or you may download and print copies online (see Statement of Claim, Inventory of Items). For building losses, an inventory form is not required
• After the Statement of Claim and Inventory of lost or damaged items forms have been completed, you will be required to submit the supporting invoices to CIL for the items being claimed on the inventory list. For building losses, you are required to submit to us, two contractor’s estimates for the repairs to the building
• Once the necessary documents have been received and completed, the claim will be adjusted by the adjuster and a settlement will be discussed with the Insured
• When a settlement has been finalized, a Proof of Loss will be signed by the Insured and a settlement cheque will be issued subsequently

 

Marine Cargo

A claim for Marine Cargo compensates the Insured for property that may become spoiled or damaged or lost while being transported between destinations to allow for an efficient and fast claims process, the Insured or their agent are advised to submit all available supporting documents without delay, including where applicable:-

• Original policy or certificate of insurance
• Original or copy shipping invoices, together with shipping specification and/or weight notes
• Original Bill of Lading and/or other contract of carriage
• Survey report or other documentary evidence to show the extent of the loss or damage
• Landing account, weight notes at final destination
• Correspondence exchange with the carriers and other parties regarding their liability for the loss or damage

 

Fire

In the case of fire – immediately contact the Fire Brigade.

After the authorities above have been contacted, it is mandatory that the insurance agency, CIL is contacted, so that we can investigate the cause of the fire, and gather all information needed to settle a claim.

 

Vandalism or Theft

For every claim that involves vandalism or theft, the RVIPF must be contacted to carry out an investigation. This is necessary, as these types of claims will require a police report to be submitted to our office before any settlement is paid.

 

Claim Process after a Fire, Vandalism or Theft

• Advise the Fire or Police authorities
• Advise CIL of any loss, so that we can send out a claim handler or appoint a loss adjuster
• Try to save property that can be salvaged
• Separate all damaged property from undamaged property, so that a loss adjuster can take photos and survey the damaged property. This also applies to damaged personal property. For damage to the building, no repairs should be carried out before a claims handler or adjuster has taken photos of the damaged property
• You will need to fill out a statement of claim and inventory form and submit them both to our office. For personal property the inventory list has to be submitted with supporting invoices for the items being claimed
• For a building, two repair estimates from two independent contractors should be submitted

When all relevant documents are submitted, along with estimates and invoices, and photos have been taken by the adjuster or claims handler, the adjuster will adjust your claim, then you will be called into our office and your settlement will be discussed.

After you have agreed on your settlement, a proof of Loss will be prepared for your signature, and your settlement cheque will be issued.

The process of settling each claim varies based on the time it takes for the insured to provide the necessary documents.