Claim application

After earthquake occurred, while insured target suffered damage, they could directly apply claim to P & C companies or to TREIF (Taiwan Residential Earthquake Insurance Fund). If insured applied claim to TREIF, TREIF will help the insured find out and get touch with their P & C company.

Qualified loss adjusters

TREIF had developed a 12 hours training courses for claim staff of P & C companies and adjusters. The training courses include the introduction of residential earthquake insurance, the basic theory of building structure and how to access destroyed building based on TREIF’s “Residential Earthquake Insurance Building Loss Evaluation Table”. While students finish the training courses and pass the examination, they will acquire TREIF’s certification and become qualified loss adjusters. After earthquake occurred, qualified loss adjusters are the front line people to the disaster area helping all the insured needs and accessing the claim.

Re Evaluation Meeting

If the damaged building belonged to special conditions such like steel frame structure, or the evaluated result fell in the dilemmatic zone and hard to define, or the insured just not satisfied the evaluated result. All these cases will be applied to TREIF, and TREIF will hold the re evaluation meeting which composed by the delegate of P & C companies, the delegate of the academic and the main four fields professional engineers (civil engineering, structure engineering, geotechnical engineering and architect). Re evaluation meeting will carefully review all cases and make the judgment by the professional decision or assign professional engineer to the damaged building for detail survey and re-evaluating the claim.

Loss assessment

The Taiwan Residential Earthquake Insurance loss assessment is divided two ways depending on the intensity and effects of an earthquake event.

a) Once a disastrous earthquake happens, Taiwan government and local civil authorities might dispatch the licensed engineers as emergency inspectors to visit the affected areas and identify buildings that are in danger of collapse. If the damaged building is not fit for habitation, government or civil authorities will announce and issue the relevant loss certification document.

b) In the event of a smaller scale Earthquake, each ceding company’s qualified loss adjusters are responsible for the assessments and evaluations of the affected household buildings. According to the relevant guideline, the qualified loss adjustors have to conduct on-site inspections and fill in and submit standard forms to TREIF.

In addition, if the claim is disputable and needs to be re-adjusted, TREIF will hold a contingent review meeting and invite licensed civil engineers/specialist to review and perform the secondary assessment. If necessary, the licensed civil engineers will proceed on-site inspection again and determine the damage ratio of the household buildings.