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Requirements & Notes:

A. Documents / information required for claims submission

  • You should provide written notice, including details of the claim or circumstances that may reasonably be expected to give rise to a claim. This written notice should specify the reasons for the claim, or anticipating a claim, with full details about the dates and persons involved
  • You should supply copies of all relevant documentations including claimant's demand letter, writ of summons, statement of claims, judgment, notice of interview and transcript of the interview issued by the regulatory authorities (e.g. Macao Monetary Authority, Commission Against Corruption, Judiciary Police and Department of Public Prosecution), charge sheets, chronology of events, correspondence between you and the claimant, legal opinion advising on the merit of the claim, etc
  • If defense lawyers are retained, you should notify us of the hourly rates charged by them, and provide a copy of their curriculum vitae (CV) and the budgeted costs of the defense
  • You should provide copies of legal invoices and detailed narratives for any defense costs incurred
  • You should be prepared to supply any other information or documentation that we may request 

B. Notification Procedure

  • The insured becomes aware of a claim or circumstances that may give rise to a claim
  • You should provide us with written notice of any claim first made against the insured as soon as practicable and within the policy period or discovery period (if applicable)
  • You may also provide us with written notice of any circumstances that may reasonably be expected to give rise to a claim
  • We will acknowledge receipt of the notification in writing
  • We will review the information provided and determine if it is sufficient for us to determine policy liability. During this process, we may request additional information or documentation from you
  • We may appoint an investigator, adjuster or lawyer to investigate the events and circumstances leading to the claim
  • If the information provided or discovered is sufficient, we will communicate our decision of coverage position to you in writing
  • The insured shall have the duty to defend a claim
  • You must not admit liability or enter into any settlement or incur defense costs without our prior written consent
  • In the event that a claim involves both covered matters and matters not covered under this policy, we will make a fair and proper allocation of any defense costs, judgments and/or settlements

Requirements & Notes

A. Documents / information required for claims submission

  • You should provide written notice, including details of the claim or circumstances that may reasonably be expected to give rise to a claim. This written notice should specify the reasons for the claim, or anticipating a claim, with full details about the dates and persons involved
  • You should supply copies of all relevant documentations including claimant's demand letter, writ of summons, statement of claims, judgment, chronology of events, correspondence between you and the claimant, legal opinion advising on the merit of the claim, etc
  • If defense lawyers are retained, you should notify us of the hourly rates charged by them, and provide a copy of their curriculum vitae (CV) and the budgeted costs of the defense
  • You should provide copies of legal invoices and detailed narratives for any defense costs incurred
  • You should be prepared to supply any other information or documentation that we may request

B. Notification Procedure

  • The insured becomes aware of a claim or circumstances that may give rise to a claim
  • You should provide us with written notice of any claim first made against the insured as soon as practicable and within the policy period or discovery period (if applicable)
  • You may also provide us with written notice of any circumstances that may reasonably be expected to give rise to a claim
  • We will acknowledge receipt of the notification in writing
  • We will review the information provided and determine if it is sufficient for us to determine policy liability. During this process, we may request additional information or documentation from you
  • We may appoint an investigator, adjuster or lawyer to investigate the events and circumstances leading to the claim
  • If the information provided or discovered is sufficient, we will communicate our decision of coverage position to you in writing
  • The insured shall have the duty to defend a claim
  • You must not admit liability or enter into any settlement or incur defense costs without our prior written consent
  • In the event that a claim involves both covered matters and matters not covered under this policy, we will make a fair and proper allocation of any defense costs, judgments and/or settlements 

 

Requirements & Notes:

A. Documents / information required for claims submission

  • You should provide written notice, including details of the claim or circumstances that may reasonably be expected to give rise to a claim. This written notice should specify the reasons for the claim, or anticipating a claim, with full details about the dates and persons involved
  • You should supply copies of all relevant documentations including claimant's demand letter, writ of summons, statement of claims, judgment, chronology of events, correspondence between you and the claimant, legal opinion advising on the merit of the claim, etc
  • If defense lawyers are retained, you should notify us of the hourly rates charged by them, and provide a copy of their curriculum vitae (CV) and the budgeted costs of the defense
  • You should provide copies of legal invoices and detailed narratives for any defense costs incurred
  • You should be prepared to supply any other information or documentation that we may request

B. Notification Procedure

  • The insured becomes aware of a claim or circumstances that may give rise to a claim
  • You should provide us with written notice of any claim first made against the insured as soon as practicable and within the policy period or discovery period (if applicable)
  • You may also provide us with written notice of any circumstances that may reasonably be expected to give rise to a claim
  • We will acknowledge receipt of the notification in writing
  • We will review the information provided and determine if it is sufficient for us to determine policy liability. During this process, we may request additional information or documentation from you
  • We may appoint an investigator, adjuster or lawyer to investigate the events and circumstances leading to the claim
  • If the information provided or discovered is sufficient, we will communicate our decision of coverage position to you in writing
  • The insured shall have the duty to defend a claim
  • You must not admit liability or enter into any settlement or incur defense costs without our prior written consent
  • In the event that a claim involves both covered matters and matters not covered under this policy, we will make a fair and proper allocation of any defense costs, judgments and/or settlements 

 

Requirements & Notes:

A. Documents / information required for claims submission

  • You should complete a Proof of Loss Form
  • You should provide details of the circumstances leading to the loss, including reasons leading to the indebtedness of the buyer and action taken by the insured to collect the outstanding amount
  • You should supply copies of all relevant documentations including the invoices of the defaulted payments, Letters of Credit (as applicable), payment instrument (as applicable), shipping documents and any relevant correspondence between the insured and the buyer in relation to the defaulted payments
  • In case of an insolvency loss, you should provide all relevant documentation evidencing such insolvency
  • In the event of a factor credit loss, you should provide evidence of the assignment of debts to the bank
  • You should provide details of any repayment schedule proposed by the buyer
  • You should be prepared to supply any other information or documentation that we may request

B. Notification Procedure

If the insured sustains a loss or expects a loss in connection with eligible shipment or receivables due to failure of the buyer to pay all or part of the values of the shipments or receivables within the prescribed period of time under the policy:

  • You should provide us with immediate written notice of the buyer's failure, or any circumstances that may reasonably be expected to result in a loss
  • We will acknowledge receipt of the notification in writing
  • We will review the information provided and determine if it is sufficient for us to determinate policy liability. During this process, we may request additional information or documentation from you
  • We may appoint an investigator, adjuster or lawyer to investigate the reported matter
  • If the information provided or discovered is sufficient, we will communicate our decision of coverage position to you in writing