Marine Claims > Case Study - I

Bulk Commodity Losses

Such as Wheat, Sugar, Pulses, Oil, Soya.

Surveyor's Role

To go to the site & have over all view of site.

To determine the actual qty of insured.

To identify the consignment of insured.

To identify/determine the loss after Segregation of item into safe, partially affected, totally affected e.g. wheat, pulses, sugar.

To record the evidence such as statement of spot witness of about circumstances of loss.

To call for documents related to the consignment such as:

• Invoice
• Packing list
• G. R/ R. R/ Bill
• Stock record
• Insured/outward gate passes
• Weightment slips
• If at part then part records verification
• Letter to carries
• Damage/shortage certificate
• Test reports/ analyses reports
• Bill of entry
• Custom no tings to verify the documents detained
• Insurance Policy
• Costing proof of the products & related expenses for reprocessing etc

To Verify the Documents Obtained

• Compute loss/ stock as per records


• Identify physical stocks vs-vs stock as per records such as invoice, B/L, B/E


• To check the insured gate/outward gate entry VS – VS records.


• To do the physical weightment of segregation stocks in surveyor presence


• To determine the loss
  
  - If due to shortage like sugar, wheat etc.
  - If due to determination of quality –do-


• The quality test would be carried (test reports) on respective basis, so that except deterioration is determined and to determine. The kind & extent of expenses to be extra incurred (delta cost)/ incremental cost.

For e.g. Raw Sugar

To see the saving if any and reduce it:
To determine the salvage value of affected stocks.

To call few Salvage buyers for 3 quotations independently
To call for tendering process to sell the stock

For example of tendering process of wheat:

• Tender form
• Advertisement in news papers
• Inspection of damaged items
• Receiving of tender forms with EMI
• Opening of tender forms
• Allotment of tender to the best bidder

This disposal process would also cross check the weight and shortage

• To exclude the loss beyond the period of policy for example i.e. 42 days, 14 days, 7 days extended period on different polices under road transit.
  - Shortage Period


• To apply excess clause as per policy
• In case of open policy, the declared value of the consignment to be checked