Kathmandu. Rule 91 of the Insurance Regulations, 2081 BS has the legal provisions regarding the claim process of the non-life insurance company. <\/p>\n
Provisions for Settlement of Claims of Non-Life Insurance In case of damage to the insured goods due to the risk of the insured, the insured shall inform or inform the insurer by telephone, SMS, e-mail, fax, written letter, or any other physical or electronic means as soon as possible as mentioned in the insurance policy and in the case of others, as soon as possible before the loss of evidence or if there is a continuous loss. <\/p>\n
(2) Upon receipt of information or information about the loss pursuant to Sub-rule 1, the insurer shall immediately deploy employees or representatives to facilitate the claim and assist the insured. The insurer will have to ask the claimant for all the documents required for the claim in lump sum. <\/p>\n
According to Sub-rule 1, after receipt of the information or information about the insurance claim, the insurer shall depute a surveyor within 7 days and inform the insured about the same. <\/p>\n
The surveyor deputed pursuant to Sub-rule (2) shall carry out necessary inquiry and determine the liability according to the type of non-life insurance and submit a report with detailed details to the insurer within the period as referred to in Rule 52. Subject to the terms and conditions of the policy, the insured shall have to inform the insured about the amount to be received by the insured. <\/p>\n
Clause 52 of the Insurance Regulation has the provision that the surveyor should submit the damage assessment report within 60 working days. While submitting the damage assessment report, the surveyor should attach photos and videos taken from various angles to the damage assessment report. <\/p>\n
(7) The insurer has to settle the claim within 7 days of submission of the report as referred to in Sub-rule (4) and if it is not necessary to pay the claim, inform the claimant in writing along with the reasons within the same period. <\/p>\n
(8) The insurer shall ensure that the insured has understood the information referred to in Sub-rule (7) and the insurer shall maintain evidence thereof. <\/p>\n
(9) In cases where it is not deemed appropriate to be done by the surveyor deputed pursuant to Sub-rule (8), the insurer may appoint another surveyor setting out the clear grounds and reasons therefor. <\/p>\n
Irrespective of the other provisions relating to settlement of non-life insurance claims, a foreign surveyor has to be appointed in Nepal for assessing the loss of any claim, and if a foreign surveyor is to be appointed, a clear reason thereof shall be submitted to the Authority for approval. <\/p>\n
Except as otherwise mentioned in the policy, the insurer must pay only the amount equal to the actual damage incurred at the time of the occurrence of the claim or the sum insured, whichever is less. <\/p>\n
If the surveyor is unable to submit the damage assessment report within the stipulated time due to the situation beyond control, additional time can be provided with the consent of the insured. And the information will have to be given to the Authority. <\/p>\n
If any claim is found to be suspicious, the insurer can appoint a claim investigator and inform the authority about it.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Rule 91 of the Insurance Regulations, 2081 BS has the legal provisions regarding the claim process of the non-life insurance company. Provisions for Settlement of Claims of Non-Life Insurance In case of damage to the insured goods due to the risk of the insured, the insured shall inform or inform the insurer by telephone, […]<\/p>\n","protected":false},"author":5,"featured_media":225619,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45159,45096],"tags":[],"class_list":["post-302721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-news-en","category-non-lifeinsurance-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/302721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=302721"}],"version-history":[{"count":1,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/302721\/revisions"}],"predecessor-version":[{"id":302722,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/302721\/revisions\/302722"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/225619"}],"wp:attachment":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=302721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=302721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=302721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}