Fire and Consequential Loss Insurance - IC 57 Exam Study Notes

Thereafter, a final report is submitted giving full details of the adjustment of the loss and the surveyor?s opinion on the question of liability under the policy.
As per Condition 15 of the Fire Policy, upon the settlement of any loss under the policy, pro-rata premium for the unexpired period from the date of such loss to the expiry period of insurance for the amount of such loss shall be payable by the insured.
The discharge voucher is to be signed by all the persons named in the policy as 'The Insured', and the cheque is drawn in favour of all parties mentioned in the policy.
The claims which are paid will be reflected in the accounts which are prepared at the time of closing.
The surveyor?s primary duties are given in Rule 13(1) of Insurance Surveyors and Loss Assessors (Licencing, Professional Requirements and Code of Conduct) Regulations, 2000.

Important Points for IC 57 - Fire and Consequential Loss Insurance Exam