Insurance of Trailer under Motor Vehicle Insurance Policy It is observed that some of the owners of the commercial vehicle are insuring them under two parts i.e. Horse and Trailer (commonly known as “TALA”) to...

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Under what circumstances Burglary/Theft is covered under Fire Insurance Policy? It is covered under Riots, Strike and Malicious Damage (RSMD) peril. If the exclusions under this peril are  studied carefully, the Burglary is not covered...

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Kutcha or Non Kutcha Construction under Fire Insurance? (Fire)   All India Fire Tariff (AIFT) prescribes that in case of “Kutcha” construction the premium will be loaded by certain amount but not defined what “non Kutcha”...

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Contents of FIR in case of Burglary Policy? (Burglary)   In one of the our issues we mentioned “ Only intimation to the policy” is required  as per terms and conditions of the Burglary Policy as...

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Preparation/Raising  of Invoice for Third Country Exports under Marine Insurance Now-a-days, it is a common practice that Indians are importing the material from other countries , especially from China , shipped from that country...

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Protection of Exporter in case of loss of Ex works/FOB/C & F consignments under Marine Insurance   As per INCO terms, the consignments can be exported on any of the most popular terms in India namely...

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What is the meaning of Money, under Money  Insurance? The business houses are insuring their money ,for the risk during transit between bank and insured’s premises and kept in safe or Till/Counter. Generally, every Insured...

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Whether the total loss of the vehicle can be settled at less than IDV? Insured’s Declared Value (IDV) as per India Motor Tariff 2002; GR- 8: “The Insured’s Declared Value (IDV) of the vehicle will...

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Fire Insurance coverage of inventory which is lying physically but not in books of account? In Pharmaceutical companies as per Drug and Cosmetic Act a sample of each batch is to be maintained till...

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Same Risk but “Basis of Indemnity” is different under two different policies namely Industrial All Risk (IAR) and an individual MBD/EEI policy Loss Settlement Basis: Under IAR Policy : The loss in settled...

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