BCP Claims Handling

Question 1

What is the first step a policyholder should take when making an insurance claim in Singapore?

Accepted Answer

Notify the insurer as soon as practicable and within any specified notification period

Answer

Contact a lawyer immediately

Answer

Wait until the loss is fully assessed

Answer

Contact the police only, not the insurer

Question 2

What is a 'claims adjuster' and how do they differ from a 'loss adjuster'?

Accepted Answer

Claims adjusters typically work for insurers internally; loss adjusters are independent professionals appointed to assess complex claims

Answer

They are the same — the terms are interchangeable

Answer

Loss adjusters work for policyholders; claims adjusters work for courts

Answer

Claims adjusters are only used for motor claims

Question 3

Under Singapore's general insurance practice, what document formally presents a claim for payment?

Accepted Answer

A claim form completed by the insured with supporting documentation

Answer

A letter of demand from a lawyer

Answer

A court judgment

Answer

A MAS complaint form

Question 4

What does 'fraudulent claim' mean and what are the consequences in Singapore?

Accepted Answer

A deliberate false or exaggerated claim, which voids the entire policy and may result in criminal prosecution

Answer

Any claim that the insurer disputes

Answer

A claim submitted without a receipt

Answer

A claim submitted after the cooling-off period

Question 5

What is 'without prejudice' communication in the context of insurance claims?

Accepted Answer

Communication made during settlement negotiations that cannot be used as evidence in court proceedings

Answer

Communication that harms the insured's claim

Answer

Communication that automatically settles a claim

Answer

Communication that requires MAS approval

Question 6

What is the purpose of a 'discharge voucher' in insurance claims settlement?

Accepted Answer

A document signed by the insured confirming full and final settlement of a claim

Answer

A document authorizing vehicle repairs

Answer

A document transferring policy ownership

Answer

A certificate confirming premium payment