The Insured must:
• Give immediate notice to the Company with full particulars of the loss. If possible, the Insured/claimant/consignee should provide copies of necessary claim documents, such as but not limited to Marine Cargo policy, bill of lading/AWB’s, commercial invoice, packing list, delivery receipt/s, demand letter against the bailees, photographs of the damaged items and other pertinent documents;
• At the time of delivery, inspect the cargo and note any damages or shortages on the delivery receipt;
• Take all the necessary and practical steps to minimize the loss;
• Immediately notify the bailees, i.e. airline or shipping company, arrastre operator, & customs broker, invite them to survey the damages and promptly file formal claims against them.
• Do not dispose the damaged cargoes without the insurer’s notice.
• If the loss or damage needs further investigation, an independent surveyor will be assigned by the claims handler or if the insured has a nominated surveyor, he/she can directly assign the same to them provided that the said surveyor is accredited to the Company.
• Cooperate with the authorized representative of the Company in the conduct of investigation and strictly adhere to the terms and conditions of the Insurance Policy.
Documents to be submitted:
• If the claim amount falls below US$2,500.00 and do not present a fraud issues, below are the required documents, to wit;
- Bill of lading, rail waybill, air waybill, truck waybill, warehouse receipt or other document of transportation;
- Invoice, valued inventory or other indication of value;
- Packing list to establish quantity of goods, if not contained within the invoice;
- Delivery receipt with exceptions;
- Survey report, warehouse receiving record, credit memo, claim statement or other indication that a loss has occurred.
• Claim amount falls above US$2,500.00, below are the required documents, to wit;
- Original copy of Marine Certificate;
- Original copy of commercial invoice & packing list;
- Original or duplicate copy of air waybill or bill of lading;
- Original or duplicate copy/ies of Customs Broker’s delivery receipt noting exceptions;
- Copy of equipment interchange report;
- Duplicate copy of warehouse receiving report;
- Detailed claim statement
- Duly receipted copies of demand letters against the bailees namely the shipping or airline, arrastre operator, and customs broker and their replies, if any;
- Copy of import entry & internal revenue declaration;
- Original or duplicate copy of Turn Over Survey of Bad Order Cargo & Request for Survey of Bad Order Cargo.
Points to consider:
• Marine policy is a valued policy hence, limit of liability is limited only to the amount declared/agreed under the policy.
How claim is settled?
• Upon submission of the complete claim documents, final evaluation is rendered and settlement offer is presented to the insured.
• If the Insured accepted/conforms with the amount in the settlement offer, the issuance of settlement check is within three (3) working days for claims below US$2,500.00 & five (5) to seven (7) working days for claims above US$2,500.00.