At the being, the affected quantity of stock and cost of price were submitted by the Insured in amount of Bht 1,142,550.00:-
After we checking the claims, we found the price of rice were was overstated, so we adjust loss by used the price at date of loss at amount of Bht 766,320.00
By the way, it appears that this policy is attached with “Appraisement Clause” (10% of sum insured) while the loss was lesser than the stated amount 10% thus checking of Value at Risks is not necessary to be taken at this occurrence.