Loss Assessment, Survey Procedure and Claim Documentation
What the exam tests
This domain tests the surveyor's end-to-end work: appointment, document collection, site inspection, cause and extent assessment, salvage, loss computation, and report writing. The exam expects a defensible trail from policy to payment.
Procedure and documents
Verify the policy, endorsements, premium payment, sum insured, and conditions. Collect the claim form, policy copy, FIR/incident report where applicable, photographs, purchase invoices, stock statements, books of account, repair estimates, and previous claim history. Inspect the site, separate damaged from unaffected property, record salvage, and preserve evidence. Assess the cause and check whether an exclusion or condition applies. Quantify loss on an indemnity basis unless reinstatement value applies, then apply depreciation, average, salvage, and excess in the correct order.
Worked example
Stock is insured for ₹10,00,000; value at risk is ₹15,00,000; assessed loss is ₹6,00,000; salvage is ₹50,000; policy excess is ₹10,000. Net loss after salvage = ₹5,50,000. Average applies because the sum insured is below value at risk: ₹5,50,000 × 10/15 = ₹3,66,667. Less excess ₹10,000 = ₹3,56,667 payable. Deducting salvage before average avoids reducing the insurer's recovery for salvage twice.
Traps
Do not apply average before deducting salvage. Do not forget the policy excess or a higher endorsement deductible. Do not accept the insured's figures without checking stock statements and books. Do not ignore subrogation or salvage rights. Do not submit a report without photographs, measurements, and a clear cause-and-extent narrative.