You work for a large insurer as the claims manager, and you are being interviewed by the press regarding extensive fire damage claims from a large forest fire, which did severe damage in a town in Western Canada. You know that the claimants had Property (Fire) policies, All risk floater policies, and Automobile policies.

You are asked by the press to comment on the form of

indemnity for claimants.

1. Name the policy type, and explain the typical basis of claims settlement, that would be used by insurers to calculate indemnity under the insurance policy contracts, which apply to:
2. The many vehicles that were damaged or destroyed.(4marks)
3. The many homes that have been damaged or completely destroyed.(4marks)
4. The valuable antique furniture, paintings and other works of art that were destroyed by the fire.(4marks)
5. Parked trucks with cargo in containers destroyed in the fire.(4marks)

1. Name and explain why various types of adjusters, would be involved in settling both small and large claims of the same type, and various other claims requiring a certain expertise.(9 marks)