Who can claim?
The person having an insurable interest at the time of the loss can claim under the policy. The person taking the policy may or may not be the claimant. If the policy is assigned then the assignee can claim under the policy if he is having insurable interest otherwise.
A) Notice to the insurer:
Intimating insurance company about the loss or damage of goods is the first step to be taken by the insured under a claim of Marine Insurance. In the event of loss or damage to the goods, insured or his agent has to give immediate notice to the insurance company.
B) Survey and Claim
Survey and claim is the next step to be followed under procedures and formalities to claim Marine Insurance under export and import goods. In a Marine Insurance, at the time of taking delivery, if any package shows signs of outward damage, insured or his agents must call for a detailed survey by the ship surveyors and lodge the monetary claim with the shipping company for the loss or damage to the packages. A certified marine surveyor can be appointed at the location where damaged cargo is available.
C) Outward Condition
When the outward condition of the packages is apparent, the insured takes delivery unsuspectingly. After reaching warehouse, one opening the packages, they find damages to goods. In such an event, the insured and or agent should immediately inform the insurance company and call for the ship surveyor for detailed survey. They should not make any delivery of goods. They should not disturb the packing materials or the contents of packages. This is important in claiming Marine Insurance under export and import trade.
D) Missing Packages
In case any package is found missing, the insured must lodge the monetary claim with the insurance company and its Baileys (shipping company) and obtain a proper acknowledgment from them. This is one of the formalities to claim Insurance under import export of international trade.
E) Time Limit
Every action to be done within the time limit as set up by various laws. Delayed action is as good as not active. In a Marine Insurance, the time limit for filing suit against the shipping companies is one year from the date of discharge of goods, which may change as per the rules and regulations of the insurer.
F) Claim Documents
List of following documents need to be submitted for claim
i) Original Insurance Policy or Certificate;
ii) Copy of B/L;
iii) Survey Report / Missing Certificate
iv) Original Invoice
v) Packing List
vi) Delivery Report
vii) Claim Bill