Book traversal links for Article 13 Duties of the Surveyor and Loss Adjuster
Article 13 Duties of the Surveyor and Loss Adjuster
IA-BOD-RES 6/2010 Effective from 14/11/2010The Surveyor and Loss Adjuster shall comply with the following:
- In practicing the business of surveying and loss adjustment, adhere to limits of classification in the registration thereof.
- Add his/her/its name and registration number with the IA on all stationary, documents, correspondence and reports thereof.
- Comply with the provisions of laws and regulations and the rules of integrity and transparency in performing the duties thereof.
- Inform the affected parties in writing of all procedure to be taken and request all information necessary to identify the type, reasons and size of damages in order to perform the tasks properly as an Surveyor and Loss Adjuster.
- Verify the accident circumstances and state whether the accident realized is insured or not.
- Determine the actual value of the insured interest at the time of damage occurrence as well as the type and size of such damages. In case there is a claim for a specific amount of compensation, inform the Company whether such claimed amount of compensation is appropriate, excessive or rejected and state the grounds for the assessment thereof.
- Adjust the Company’s liability under the insurance policy taking into consideration the terms, conditions, exclusions and deductible amounts of the policy or its endorsements.
- Suggest the prompt measures to prevent aggravation of damages and maintain what remains of the insured interest.
- Inform the relevant parties of the probabilities of a third party liability for the damage, the necessary procedures to protect the rights of such parties and maintain their contractual or legal obligations, if possible.
- Inform the parties of the difficulties that possibly will be encountered when performing his/her/its work, which may prevent the performance of his/her/its task.
- Prepare the reports on surveying, loss adjustment and settlement, as soon as possible.
- Within three months from the end of each year, provide the IA with an annual statement of the claims settled through him/her/it using the form prepared by the IA for this purpose.
- Inform the IA in writing of any issue discovered or known by him/her/it during the performance of work, which constitutes a violation of the provisions of the Law, regulations or resolutions issued pursuant thereto.
- Inform the IA immediately of any change or amendment to the conditions of his/her/its registration.