Section 19 in The Emergency Risks (Goods) Insurance Scheme
19. Statement of claims, verification and payment.
(1)All claims shall be submitted in writing in the form given in the Fourth Schedule to the Government agent within the time specified in condition 7 of the conditions set forth in the Second Schedule.(2)The loss as a result of emergency risks in the value of property insured under the scheme shall be computed on the basis of the replacement cost at the prices prevailing at the time that the policy of insurance takes or has taken effect after making due allowance for depreciation upto the time of the occurrence of the loss or damage, or on the basis of the replacement cost at the prices prevailing at the time at which the loss occurs or has occurred, whichever may be less.(3)On receipt of the claim, the Government agent shall have the claim verified the loss or damage, if any, assessed by a person who is for the time being a Loss assessor recognised by the Central Government in this behalf, or it the Central Government so directs, by such person or persons as may be specially deputed by it for this purpose.(4)As soon as the loss assessor or the person deputed for the purpose has verified the claim and assessed the loss or damage, if any, he shall make a report thereon the Government Agent, who shall after such further verification as he thinks fit to make, forward the report, with his remarks and recommendations to the Government of India in the Ministry of Finance, (Department of Revenue and Insurance.)(5)If the claim is proved to the satisfaction of the Central Government, a payment order in favour of the claimant will be issued by the Central Government as soon as possible through the Government agent in full settlement of the claim.(6)No interest shall be due in respect of any payment under this scheme which remains unpaid for any reason.(7)On receipt of the payment, the claimant shall furnish to the Government agent a receipt in the form set out in the Fifth Schedule.
