“SIGMA” Insurance agency is a company, who are eager to be absolutely open and transparent in relationship with our esteemed clients and partners. The main issue is the way the payment of insurance indemnity is carried out and the speed of its delivery to the client.
Our main aim in case of losses is to provide our clients with consultation support at all stages of loss settlement, to provide full support of them and make sure, they get the insurance compensation.
The speed of getting the insurance amount mostly depends on the Insurant’s actions. The main factors of the prompt settlement of the insured event are: How long it takes the Insurant to report about losses, to provide the data requested by the insurance company in support of the reasons and amount of damage suffered and their further actions.
In respect of insignificant losses, insurance compensation is paid after collection and confirmation of all necessary information on the loss.
The settlement process differs for major and extra major losses: an insurer can hire an independent expert at his own expense, who takes on all the work involved in processing the package of documents: from the damages confirming the cause, to the justifying the amount of damage.
A major loss can not be paid immediately because of a long collection of documents confirming its size. Typically, the restoration of an enterprise after, for example, a major fire, is not one month, and, accordingly, the same time is necessary to obtain documentation.
Firstly, the data, explaining the reasons of the loss, is collected. If the loss can be classified as an insured event, the work on its settlement begins. Otherwise, the settlement of the Insurant’s claim is completed by signing the Insurance Act.
As a rule, insurers can practice a phased payment of insurance compensation while settling large insured events. The methodology is based on the fact that, with a large amount of loss, there is always that part of it that is "absolutely due amount of insurance compensation" to the Insured. In other words, with a large loss, there is always that part of the property, which in any case will be confirmed by documents in the subsequent settlement of the loss.
This approach lets the Insurant finance the expenses for restoring the enterprise after an insured event without diverting its own financial resources (or the need to raise borrowed funds) and serious consequences for its economic situation.