PRESENTATION FOR INSURANCE

CLAIMS OF RELIANCE GROUP

BY:
J. C. GUPTA & CO. ISLA PVT. LTD.
IRDA/CORP/SLA-51397/Exp. 16.05.2020
 Type of claims intimated:
• Fidelity Guarantee
• Theft/ Burglary
• Fire –Damages to building/ stocks/ P&M
• Flood/Inundation
 LOR for Fidelity Claims:
• Copy of appointment letter, address/identity details of the suspected employee
• Copy of FIR
• Dues payable (PF, Salary etc.) to suspected employee as on date of loss
• Internal control system of the company and audit report
• Copy of termination letter of the suspected employee
• Copies of the affected invoices / supporting stock transfer documents like STN,
STO, GRN, E-way bill etc. in which suspected employee committed fraud
• Recovery till date, if any
• Stock records of the store for last three months
 LOR for Misappropriation of Cash
• Please clarify why the loss was not identified on same month or during audit / closing of monthly accounts.
• Internal audit & investigation report.
• Appointment, termination & personal details verification of accused employee.
• First information report (FIR) against accused employees with details of loss.
• Salary slips for last three months of accused employee.
• Full & final settlement of accused employee and details of recovery done by police or company of any other
means.
• Copy of company account statement from 01/04/2018 to 30/06/2018.
• Copy of fake/forged receipts created by accused for deposition of collection amount.
• Copy of system entry made by accused from 01/04/2018 to 30/06/2018, highlighting the dates on which
deposition was not made.
 LOR for Theft/Burglary Claim
• FIR Copy
• Details of stolen items along with copies of original purchase invoices
• Details of security arrangements with ID proofs of the security guard present at
the time of loss along with the internal security (sensor scanning system in case of
theft)
• CCTV Footage
LOR for Fire –Damages to building, stocks, P&M

LOR for BUILDING:

• Copy of ownership proof (Sale Deed/ Electricity Bill)
• If building is rental/ rent-out, then submit rent agreement/ lease deed with
annexure of FFF and contents ownership documents
• Fixed Asset Register for subject location
• Repair estimate mentioning the labour and material cost separately
• Final Repair Invoices along with Proof of Payment
 LOR for Fire –Damages to building, stocks, P&M
LOR for STOCKS:
• Stock statement as on date of loss (SAP data)
• Detailed list of damaged stocks (extracted from SAP data)
• Documents in support of cost rate claimed. These could be copies of last
purchase bills for items under claim.
• Copies of Invoices for which GRN remained pending at the time of loss
• Salvage Sale Invoices, if applicable
• Details of GST, if applicable
 LOR for Fire –Damages to building, stocks, P&M
LOR for P&M:
• Copy of original purchase invoices of the damaged equipment/machinery
under claim
• Estimate of Repair for repairable machinery from the authorized/competent
Repair Agency.
• Quotation from supplier/manufacturer in respect of the damaged P&M/FFF
for their new replacement value/fully erected & commissioned Cost.
• Copy of Fixed Asset Register for the machineries/equipment installed at the
above site.
• Final Reinstatement Invoices along with Proof of Payments
THANKING YOU