Book traversal links for Article 14 Contents of the Settlement Report
Article 14 Contents of the Settlement Report
IA-BOD-RES 6/2010 Effective from 14/11/2010The settlement report prepared by the Surveyor and Loss Adjuster shall at least include the following information:
- The date of preparation and submission of the settlement report.
- Information about the insured and beneficiary of the insurance.
- The party that requested the settlement.
- Names of the related insurance agents and brokers, if any.
- Introduction on the insurance policy and its basic terms, particularly those related to damages, subject of the report.
- A statement of the damages and their causes, and determining the loss resulting therefrom.
- A statement of work and procedures followed in making the settlement and preparing the report, including any case of outsourcing specialized persons for settlement work. The Surveyor and Loss Adjuster shall include the reports of such outsourced persons in his/her/its report.
- The technical opinion about the insurance coverage and the extent of inclusiveness thereof in terms of type and amount of damage, loss adjustment of the damage size for which indemnity is claimed and the amount of payable compensation.