Property Insurance Loss Investigation (From Criminal and Civil Investigation Handbook, P 7-15 to 7-29, 1981, Joseph J Grau and Ben Jacobson, ed. - See NCJ-84274)

• NCJ Number: 84318
• Author(s): H S Daynard
• Date Published: 1981
• Length: 15 pages
• Sale Source: McGraw-Hill Publishing Co
• Language: English
• Country: United States of America
• Note: *This document is currently unavailable from NCJRS.

Annotation

This discussion of property insurance loss investigation covers the nature of property insurance, investigation procedures, fixing loss and damage, special adjustment considerations, and the characteristics of the ideal claims adjuster.

Abstract

Property insurance investigation should (1) determine whether the insured has proved a loss caused by an event insured against, within the policy period, and to property described in the policy; (2) verify that the insured has performed all obligations required under the terms and conditions of the insurance; (3) verify that the loss was not brought about by a cause or did not involve property excluded under the policy; (4) determine the amount of loss or damage and, if authorized by underwriters, agree on an adjustment; and (5) familiarize the policyholder with the procedures necessary to conclude the claim and assist the ensured in a manner not inconsistent with the adjuster's obligations to the underwriter. Standard investigative procedures include the obtaining of interviews and statements, examination of the policyholder under oath, inspections of the insured property, and audits of records to determine the existence of any destroyed property. Special adjustment considerations are involved with salvage, retention of experts, subrogation, fire damages, loss or damage by bailee, loss of stock, and burglary. The ideal claims adjuster will possess human relations skills, knowledge about property policies and property values, and the ability to render a judgment fair both to the insured and the insurer. Eight references are listed.