Emmanuel sent one consignment to Ireland on 5th May, 2021. The consignment was lost in sea and did not reach the destination. Explain him the procedure for making marine insurance claim.

Procedure for making Marine Insurance Claim Intimation to Insurance Company: The insured must give immediate intimation to the insurance company regarding the loss. The necessary details like the day, date, time of ship and voyage taken should be mentioned. Reasonable Care: In a marine Insurance, it is a condition of the policy that the insured and his agents should act as if the goods are uninsured and should take all such measures and actions as may be reasonable and necessary to minimize the loss or damage. They must also ensure that all the rights against carriers, baileys or third parties are protected. So Reasonable care is one of the measures to be taken in to consideration under the procedures of claiming Marine Insurance against loss or damage of export import goods of international trade. Initial Assessment of the loss - The insured makes an initial assessment of the loss, which is required to be filled in the claim form in respect of the loss of goods or property incurred. Outward Condition: When the outward condition of the packages is apparent, the insured takes delivery unsuspectingly. After reaching warehouse, one opening the packages, they find damages to goods. In such an event, the insured and or agent should immediately inform the insurance company and call for the ship surveyor for detailed survey. They should not make any delivery of goods. They should not disturb the packing materials or the contents in packages. This is important in claiming Marine Insurance under export and import trade. Missing Packages: In case any package is found missing, the insured must lodge the monetary claim with the insurance company and its baileys (shipping company) and obtain a proper acknowledgement from them. This is one of the formalities to claim Insurance under import export of international trade. Submission of the claim form: the insured must fill all possible details in the claim form. He must lodge the claim form with the following documents: Original Insurance Policy, Copy of Bill of Lading, A copy of commercial Invoice, A copy of packing list, Survey report, Claim Bill. Evidence of Claim: Along with the claim form, the insured must send certain proof and other records in justification of the claim made. The evidence should enable the insurance company to determine the amount of loss. Verification of Claim Form: The claim form along with the supporting evidence is verified by the insurance company. Survey: After the receipt of the claim form, and necessary verification, the insurance company appoints the surveyors to assess the actual loss. The surveyors conduct the necessary investigations. They investigate into the cause, the actual amount of property lost and other relevant details. The surveyors then make the report of their findings and assessment of the loss. Landing Remarks: The insured should obtain landing remarks, from the port authorities, if survey report is not obtained. Settlement of Claims: If there is no dispute between the two parties, as to the amount of loss, the insurance company then makes necessary payment to the insured. The amount of money is paid to India Exporter in Indian rupees. If the claimant is not a resident of India, payment maybe made in foreign currency. Appointment of the arbitrator: There may be a dispute regarding the amount of claim. In such a case, an arbitrator is appointed, acceptable to both the parties, to settle the amount of the loss.