What is the Recovery of Insurance Claims?

Insurance Claims Recovery is a legal phrase that refers to an insurance company accepting its insured's right to pursue a claim against a wrongdoer. If an insurance company pays for property damage caused by an accident, the party that caused the accident will be held liable.

Who processes the claims in insurance?

The claims settlement process is one of the most important aspects of an insurance policy, especially if the accident involves human life. A policyholder 's cargo, marine, property and health insurance claim can get settled by an insurer in two ways: third-party administrators (TPA) and through the insurer's in-house claims processing department.

What are the duties of the insured as regards the making of a claim?

Insured must notify insurer promptly in case of loss. Insured must involve the emergency services. Insured must take steps to prevent further damages. Insured must give proof and details of the loss in a writing a certain timescale.

Who is responsible to investigate and survey on a damage / loss via claim file?

At AIM Group, there are experts of marine cargo surveyors, property auditors and accident investigators who will carry out the job of investigation of a accident / incident in order to determine the extent and cause of damage over 50 years ago.

The surveyor and loss assessor of AIM Group shall, for a major part of the working time, investigate, manage, quantify, validate and deal with losses (whether insured or not) arising from any contingency, and report thereon, and carry out the work with competence, objectivity and professional integrity by strictly adhering to the code of conduct expected of such surveyor and loss assessor.

The job role of a surveyor involves the following duties: Surveying to identify extent of damage / loss and make recommendations for repairs / salvage / commercially discounted value based on AIM Group experience and knowledge of the local market, what would us consider to be a FAIR price reduction.

See Damage Survey

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