Transit Insurance Procedure with Letter Formats

Corporate Transit Insurance Claim Procedure

ABC CORPORATION LTD.

October 15, 2012

To All Concern Branches

CIRCULAR

If Materials under transit gets damaged due to different reasons, we are supposed to inform the Insurance Company & its our duty to provide required information/data/documents to the Surveyor appointed by the Insurance Company under the transit insurance Policy.

While intimating to the Regional office of the Insurance Company in your City as well as to the transporter, you are required to have  information/documents viz ready with you.

i)             Copy of Invoice/Challan

ii)           Copy of L/R

iii)          Copy of FIR, if lodged

iv)          Photographs taken

v)           Assessment sheet of loss

As mentioned above, a letter must be issued to the transporter alleging him for the losses that incurred during transit; the loss should be quantified properly.  This letter should be receipted with legible seal and signature, if sent by post, then NO COURIERS ARE TO BE USED but only by registered post with A/D (Draft copy of letter annexed as ‘A’).

Further, the letter sent to the local insurance company must contain information about the mishap in brief.   Subsequently, a request to be made to appoint a Surveyor to inspect the damages.  Date, place and time should also be given. Our representative should be present with the Surveyor, helping him to show all the damaged boards and making the exact loss assessment (Draft copy of letter annexed as ‘B’).

From our past experience, it is noticed that due to incomplete papers, we cannot recover our claims in full.  Hence, all are advised to intimate Mr Sachin Talwar at Head Office about all the progress and developments regarding any loss, so that in future we can improve upon recovery levels.

It will be a great help for us in lodging & Settling the claim.

For ABC CORPORATION LTD.

(N NAG)

PRESIDENT

On Letter Head

ANNEXURE-A

Dated :

M/s ……………………………………………………..

(Name and address of the Transporter)

Sub: Damaged/Lost in transit

Ref: L/R No. ……………………… dated ……………………….

We would like to intimate you that one consignment of ……………………. (Description of material) was transported by you from ……………….. to …………………….. and the same has been received in damaged condition/got damaged during transit and substantial loss has occurred to the Company.  We are in the process of assessing the loss.

We hereby held you responsible for the losses and would claim that the same should be made good by you.  However, we reserve our right for further action in the matter.

Thanking you,

Yours faithfully

For ABC CORPORATION LTD.

Branch Manager.

On Letter Head

ANNEXURE-B

Date :

M/s Insurance Company Name.

(Address of the Local Office)

……………………………………………

…………………………………………….

Sub : Intimation regarding damage/Loss

Ref :  Marine Insurance Policy No. XXXXXXXXX

dated 01.08.2012

We would like to inform you that Consignment in question has been damaged in transit/on arrival at destination and losses have occurred.

Consignment Details

1)           Invoice/Challan No.

2)           L/R No.

3)           Transporter’ name and address

4)           Details of material

5)           Quantity

6)           Estimated loss

You are requested to please depute your Surveyor at ………………….(place of incident) to inspect and make survey regarding the losses occurred.

An early action in the matter will be highly appreciated.

Thanking you,

Yours faithfully

For ABC CORPORATION LTD.

Branch Manager.