Loss assessment under a Fire Insurance Policy and impact of GST
The end consumer always takes the entire burden of indirect taxes in a tax structure. Goods and Services Tax (GST) Read more
FIRE INSURANCE POLICY
Fire Insurance Claim rejected due to direct entry of rain water
In the matter of Mr. Jagdish Lal Sharma Vs The National Insurance Company Ltd. Insurance Ombudsman Date of award – 28.03.2016 Read more
Various conditions under fire insurance policy
There are fifteen conditions in the policy. They are:
(1)Â Voidable Condition: This condition provides that the policy shall be void able in the event of misrepresentation, mis-description or non-disclosure of any material particulars. This condition emphasizes the principle of utmost good faith. Read more
The general exclusions under fire insurance policy
There are nine exclusions under the policy. They are: Read more
Perils covered under the Fire insurance policy
The following are covered under the Fire Policy in India :
Read moreSum insured in the Standard Fire Policy
Under the Fire Insurance policy the Underwriters agree that “If after payment of the premium the Property Insured described in the said Schedule or any part of such Property be destroyed or damaged by any of the perils specified hereunder during the period of Read more
Commercial – Standard Fire and Special Perils Policy from Universal Sompo General Insurance Co. Ltd.
The fire insurance policy covers all immovable and movable property located in a particular premise such as buildings, plant and Read more
Interpretation in detail of Exclusion No. 7 under standard Fire and Special Perils Policy
The exclusion No.7 of Fire Tariff is herewith produced regarding loss of Electronic/Electrical Equipments under Fire Policies. Read more