Making an insurance claim. Image credit

Making an insurance claim. Image credit

ZIMSEC O Level Commerce Notes: Insurance: Making an insurance claim

  • The insured contacts the insurance company or broker and:
  • completes a claim form giving details of the loss, honestly
  • and provides the necessary police report.
  • The insurer checks on the provisions of the agreement to insure if there is no breach of the contract.
  • The insurer considers if the loss is a result of the risk covered.
  • The insurer assess the loss:
  • The amount of compensation to be paid is calculated.
  • The insured is indemnified in accordance with the principle of indemnity.

To access more topics go to the Commerce Notes page.

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