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What is the Method of Claiming Losses and settlement of Fire Insurance?

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What is the Method of Claiming Losses and settlement of Fire Insurance?

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The method of claiming losses and settlement of fire insurance is as follows:

Steps to be taken by Policyholder:

  • Giving information
  • Submission of claim letter
  • Steps to be taken by the insurer:
  • Confirming the validity of the claim
  • Enquiring regarding payment of premium
  • Inquiry of damage
  • Appointment of an arbitrator if necessary
  • Payment of compensation
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