AIC 304 : (UNDERSTANDING
THE PROPERTY CLAIMS
ENVIRONMENT) QUESTIONS AND
THEIR VERIFIED ANSWERS
What are the insureds responsibilities following a
property loss?
provide an inventory of the damaged or lost property along
with proof of the claimed loss.
What are the claims reps responsibilities following a
property loss claim?
Must thoroughly investigate and document the loss by:
-taking statements from insured and witnesses
-examining books and records
-taking photos or video of the scene
-drawing diagrams
-creating a scope (scope sheet) of the loss
What is the purpose of a statement?
to establish property ownership, extent of loss, cause of
loss and the facts surrounding a loss. It can also help
determine if there is a third-party responsible for pursuing
subrogation.
What information should be included in a statement?
1. Identity of insured
2. Who owns the property
3. Any other insurance that may apply to the claim
4. mortgage or encumbrance information
THE PROPERTY CLAIMS
ENVIRONMENT) QUESTIONS AND
THEIR VERIFIED ANSWERS
What are the insureds responsibilities following a
property loss?
provide an inventory of the damaged or lost property along
with proof of the claimed loss.
What are the claims reps responsibilities following a
property loss claim?
Must thoroughly investigate and document the loss by:
-taking statements from insured and witnesses
-examining books and records
-taking photos or video of the scene
-drawing diagrams
-creating a scope (scope sheet) of the loss
What is the purpose of a statement?
to establish property ownership, extent of loss, cause of
loss and the facts surrounding a loss. It can also help
determine if there is a third-party responsible for pursuing
subrogation.
What information should be included in a statement?
1. Identity of insured
2. Who owns the property
3. Any other insurance that may apply to the claim
4. mortgage or encumbrance information
