ENGINEERING INSURANCE CLAIMS

sunandaC

New member
ENGINEERING INSURANCE CLAIMS


As soon as a claim occurs, please intimate immediately to Reel Regional Office. Reel claims officials will be happy to help customer with the claim procedure. Details of Regional offices can be found in RGICL Office locator.

Following information needs to be furnished by customer while intimating a claim:

1. Customers Contact Numbers

2. Policy Number

3. Name of Insured person,


4. Date & Time of accident,

5. Location of Loss,



6. Brief description on how the accident took place,

7. Extent of loss

8. Place & contact details of the Insured Person (in case person intimating the claim is other than the insured person.


IMMEDIATE ACTION AFTER LOSS

• Ensure that all the steps have been taken to minimize the extent of loss or damage.

• In case of loss or damage by fire, inform the Fire Brigade and co-operate with them but don’t forget to;

• Obtain Fire Brigade Report and bill for fire fighting expenses, because these expenses are payable under the policy.

• Intimate the Insurance Company with a rough estimate of loss as early as possible.
• The Insurance Company will not be liable for any loss or damage, if the same is not intimated to them within 14 days.

• In case of damage due to natural calamities like storm, floods, lightning, obtain the meteorological report for the weather broadcast at the time of disaster.

• Furnish all information and documentary evidence as the Insurance Company may require.

• In case of loss or damage due to theft or burglary, inform the police authorities.

• Customer may proceed with the repair of any minor damage not exceeding Rs 5000/-. If damages exceed Rs 5000/-, a representative of the Insurance company shall inspect the loss or damage before any repairs or alternations are effected.

• Preserve the parts affected and make them available for inspection by a representative or surveyor appointed by the Insurance Company.

• The Salvage materials should be disposed off at best available prices which will help in minimizing customer’s loss to a certain extent.

• In case of loss or damage to third party, customer may forward immediately any notice of claim received from a third party without admitting liability. Customer should not offer, admit, compromise or promise any payment to third party without the consent of the Insurance Company in writing.

a) Erection All Risk Insurance
• Claim form duly filled and signed
• Original Repair Bills with receipt.
• The amount of loss: Detailed claim bills with necessary bills/vouchers like bill for repairs/ replacement/ original invoice/ bill of entry.
• Photographs if arranged Fire Brigade Report
• Repair agency’s report detailing their findings on Cause and the repair procedure suggested
• Departmental Note on incident and repairs to be undertaken
• Specification of Repair form filled by the repairer

b) Contractors All Risks Insurance
• Claim Form duly filled in & signed.
• Record of Labour involved in activities related to claim.
• Inventory of Loss.
• Abstract of relevant portion of Running Account Bill
• Original Repair Bills with receipt.
• Photographs if arranged.

c) Machinery Loss of Profits Insurance Policy
• Claim Form duly filled in & signed.
• Books of Accounts.
• Record of Labour involved in activities related to claim.
• Details of Savings affected in Standing Charges.
• Claim Bill.
• Details of Increased Cost of Working.
• Details of Trends of Business.

d) Marine cum Erection All Risks Insurance Policy
• Claim Form duly filled in & signed.
• Record of Labour involved in activities related to claim.
• Inventory of Loss.
• Original Repair Bills with receipt.
• Photographs if arranged.
• Makers report detailing Extent of Loss, Cause and suggested repair procedure.

e) Boiler & Pressure Vessel Insurance Policy
• Claim Form duly filled in & signed.
• Original Repair Bills with receipt.
• Details of Third party Claims.
• Photographs if arranged.
• Boiler Inspectorate’s report.

f) Electronic Equipment Insurance Policy
• Claim Form duly filled in & signed.
• Original Repair Bills with receipt.
• Photographs if arranged.
• AMC/Repair agency’s report detailing Extent of damage, Cause and suggested repair procedure.
• Report filed by the AMC in the visit immediately preceding the Loss Date.
 

bhimsentrivedi

New member
My friend has recently got an engineering insurance cover for his newly started plant near Mumbai. He started the plant a month ago and wanted to get the insurance done. We goggled for the best insurance providers for an engineering insurance cover and decided that Future Generali was closest to our requirement. They offer all the policies you’ve discussed above. Moreover, they even provide quick settlement of claims as they have an in house claim settlement department which makes the claim settlement process faster than the other companies, who usually do it via third party administrator and that delay the processing time.
 
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