New India Assurance Company Ltd NON SETTLEMENT OF INSURANCE CLAIMReport
Please briefly explain why you feel this question should be reported .
We have taken Fire Insurance Policy from New India Assurance Company, Sivakasi branch to cover the godown stock of Copra and oiled cake at National Bulk Handling Corporation, Udumelpetu, Dindigul District, Tamilnadu. On 17/05/2011, fire incident took place and the same day one preliminary surveyor is appointed and inspected the fire affected godown .Even though full strength of District fire brigade force attempt to control the fire will lead to an end only next day morning ,We are under tremendous effort to to save maximum goods from fire by demolishing wall with the help of available BULLDOZER ,CRANE etc. and we succeeded to save 666 MT of Copra in good condition .We are also taken the salvage by tender and the salvage is removed from the godown under the supervision of the representative of the Surveyor, Mr.Prakasham. We filed the claim along with all the documents required by the Surveyor on 04/08/2011 and after all verification of our accounts, documents lastly the surveyor submitted his report on 09/02/2012 after obtaining consent letter for Rs.35493000/-after deducting policy excess .
The incident was on 17.05.2011 and now almost 12 months have elapsed. We have paid interest for the last 12 months. The bank also sends queries about the disbursement of the claim. We have sent several request and complaints from branch level to Head office level of the New India Assurance Company for settlement of the Claim amount but not settled the claim or not even received a reply from the insured.
Meanwhile on 24/02/2012 we received a mail from New India Assurance, Sivakasi branch that Senior Divisional Manager raised some queries regarding the claim to be clarified by the Surveyor or the insured. The senior branch Manager forwarded the queries to the Surveyor and he answered all the queries also.
On 16/03/2012, while the queries are pending before the Surveyor to answer to the insurance Company, the Senior Divisional Manager, Sivakasi appointed Mr.A.S.N.Arya and Co., in consultation with R.O.to investigate the same queries which are pending before the Surveyor.
The last query send by the Surveyor is regarding stock variance between KRPL & NBHC stock statement and regarding Final Police Report also. Both queries are answered and Police Final Report also submitted on 11/01/2012. After that the surveyor released his report and based on that report, we submitted our consent letter for a total claim of Rs.35493000/- (After deducting Policy excess). We accept the above amount and sent the consent letter as part of settling the claim immediately and we are waiting to receive the claim settlement cheque from the insurance company.
The incident took place on 17/05/2011, and only after several visit, verifying all documents, stock statement (which took approximate 9 months) the surveyor released the report. Now the Divisional Manager’s queries are also referred to the Mr.Alok, Surveyor and all the queries are also answered by him. Now a new query is raised by the new investigator regarding the salvage. Please note that the salvage quantity in this claim was in all times with the custody of National Bulk Handling Corporation Ltd, a well known Warehousing Company in India. After the Tender, we have weighed and removed the salvage in the presence of a competent surveyor deputed by the Senior Surveyor Mr.Alok Shankar, and he did issue a supervision certificate also. Therefore we are of very kind opinion that any further investigation regarding the salvage quantity at this final juncture is unwarranted.
Lastly we filed 7 Complaints online before the grievance cell of IRDA and all complaints are escalted .Therefore we request your kind authority to intervene this issue to settle our claim and to prevent this type of harassment by the Insurance Company to the insured in future.
For Kaleesuwari Refinery Private Limited