We would like to draw your attention to the standard claim’s settlement procedure applied in Mandarin Re Ltd. Please note that Mandarin Re Ltd. is always ready to provide the necessary support to its Clients, starting at the stage of claiming a loss and ending with making a decision on payment. We ask you to familiarize yourself with the basic list of documents required for consideration of the claim. This list can be expanded in individual cases about which the client will be notified in writing.
When the process of loss settlement under the original insurance contract is finalized, the client will submit the package of documents proving occurrence and causes of loss, calculation of the loss amount on the Company’s share. Major documents required for taking decision on indemnification are:
written application of the Cedant/Broker with calculation of the shares of settlement of the Agreement Parties with obligatory attachment of the following documents:
copies of the original insurance contract (insurance policy);
documents proving occurrence and causes of the loss under the direct contract;
documents proving the amount of loss;
payment documents proving insurance payout by a Cedant.
Within 2 working days after receipt of the package of documents the expert of the Legal Department shall take decision on adequacy of the documents for considering the claimed loss.
If the package of documents is insufficient and it is necessary to specify occurrence and causes for the loss, calculation of the loss amount, the expert of Legal Department will prepare and send notification to the Cedant/Broker on undecidability due to absence of necessary documents/information and request to send the necessary documents/information in the shortest possible time.
As soon as all the necessary documents on the settled claim are received from the Cedant/Broker expert of the Legal Department shall take decision on payment of the share of reinsurance recovery within 5 working days.
Please contact Senior Lawyer at Legal & Claims Department: email@example.com