Where we are acting as Survey and Settling Agent and according to an official mutual agreement with the insurer, a fund is reserved for large accounts and repetitive claims, to settle claims within certain amounts limits and based on specific conditions on behalf of our principal.
We provide consistent accounting reports on a regular basis i.e. monthly, quarterly, etc.., for the settled claims. The principal makes one single payment to refund us. The most advantage to act as settling agent is the claimants get their indemnity promptly and the insurer is saving efforts and expenses.
In case the insurer prefers to settle case by case and after their approval, we provide all the supportive documents and handle all the necessary negotiation and after the insurer’s approval we settle the claim and then be re-fund.