Coverage of risk during Loading /unloading under Marine cargo Insurance It is always been debated whether the loading/unloading is covered under Marine (cargo) insurance. Undoubtedly, it is not covered under Institute Cargo Clauses (ICC) 1/1/1982...

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Depreciation under MBD/EEI Policies (Engg) MBD/EEI  polices used the wordings “no depreciation is applicable” however the line does not end here and subsequent part it is written “ except for wear and tear parts and...

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Whether Commercial Vehicle can be used for private purpose? If so, any claim OD/TP is payable  (Motor) Yes, it is payable subject to payment of additional premium of 25% and not being used for Hire...

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Importance of Add on Cover ”Omission to insure addition. Alterations or Extensions” under Fire Insurance Policy It is observed that the most of Business Houses”  are not opting this “Add on cover” under Fire...

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Whether Kutcha Construction will attract Depreciation under RIV fire policy? (Fire) A poly or green house is made of plastic sheets whose cost is 8-10% of the total cost of the poly house. A fire...

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What should be the Tyre size of the Motor vehicle? It is observed that youngsters are putting broad size tyres in their vehicles for the reasons known to all. The tyre size should be...

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Insurable interest under CPM policy (Engg) Mr A insured his JCB under CPM policy and was using at project site only and the same was not registered under Motor Vehicle Act also as it is...

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Whether Money insurance is adjustable Policy? Yes, it is adjustable policy. Under Money Insurance policy the declaration is to be made at regular interval. Sometimes the limit of sum insured may be exhausted during the...

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What should be the subject matter under “Building in the course of construction” under Fire Insurance Generally the description of risk under Building in the course of construction is mentioned as “Building” which means the...

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Meaning of Accidental Damage by an external means under Package policy One of the perils under coverage’s of motor package policy is “Accidental Damage by external visible means” and the Surveyor’s generally considers  that...

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