30
Apr
Claim settlement under CAR policy
CAR policy can be issued either to the Principal/Owner or the Contractor with the same sum insured i.e. project cost. If there is any loss or damage takes place, the...
Insurance Issue of the Week
29
Apr
Whether certificate of insurance is must for imports under Stock Turnover Policy (STOP)?
A manufacturing unit has insured its sale (Domestic/Export), Purchases (Domestic /Import) through a marine insurance policy known as STOP. The valuation of...
28
Apr
Whether Demonetization is Material Change under Banker Indemnity Insurance?
With demonetization of the currency not of Rs 500/- and Rs 1000/-, these notes have become illegal tender notes. As it is “Known Facts to All”,...
27
Apr
“Reasonable and Customary Charges” under Health Insurance
Many Insurers have incorporated a condition of “ Reasonable and Customary Charges” in health insurance policies and the meaning is as under”
“Reasonable and Customary Charges” means the charges...
26
Apr
Crime Insurance Vs Fidelity Guarantee Insurance!
Generally, the risk of dishonesty of employees is covered under Fidelity Guarantee Insurance but in the computer era the Net -Banking is opted for the banking operations by almost...
25
Apr
Exclusion under Terrorism
One of Exclusions is the Add on cover of Terrorism perils is
“ The warranty also excludes loss, damage, cost or expenses of whatsoever nature directly or indirectly caused by, resulting from...
24
Apr
Custom Duty Package Insurance Policies for Owner of the Bonded Warehouse
The Insurers have released insurance policy for payment of duty to Commissioner of Custom on behalf of the owner of the warehouse who is...
23
Apr
In lighter vein; On one hand the Petrol/ diesel prices shot up and on the other hand one of the beneficial clauses for policyholder is withdrawn from new Health Regulation 2016..........Poor Consumer
Refer earlier weekly...
22
Apr
Latest Amendments in MV ACT-TP Claims
Govt has proposed various amendments in the MV Act and to be placed before the Lok Shabha for the final approval. There is debate on the limit of quantum...
21
Apr
Excess under Fire and Engineering Insurance Policies
IRDA de-tariff the premium rates vide notification Ref:034/IRDA/De-Tariff/Dec-06 Date:04-12-2006 for various policies like Standard Fire & Special Perils Insurance Policy, Engineering Insurance Policy, Vehicle Insurance Policy and Workmen’s...