Treatment of painting charges including materials and other miscellaneous expenses spent by insured in making the new spare parts to fit in the place of damaged parts in Motor O.D. Claims

Under partial losses of Insured vehicle, the question of treatment of cost of colour and painting charges and other miscellaneous expenses spent by insured on the new spare part to render it to fix in the place of damaged part arises, creating confusion, whether to treat such charges as an additional cost of spare part that requires replacement and thereupon to be clubbed along with cost of bare spare part TO ARRIVE THE VALUE OF PART  to be replaced or to treat such additional expenses spent on the bare part by insured as LABOUR CHARGES during renewal of the spare part, since the repairers of Insured Vehicle have been furnishing loss estimate showing the bare part (without colour) under list of parts to be replaced and colour cost and painting charges under labour charges ON ACCOUNT OF NON-AVAILABILITY of colour spares readily in the market. Read more

Brand Building in Insurance Industry in India

Is it not disconcerting to find that the Indian insurance industry particularly the general insurance has failed to- make a headway despite its long presence? Read more

Saving the Economy with Salvage

What would you do with your business if you had fewer budgetary restrictions and concerns and had more money? Would you expand your advertising platform ad methods to gain new customers? Would you make your product available in another country? Would you launch an entirely new product line? Would you hire more employees to accommodate your growing business?

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Need for law of insurance in globalised world

The trade and commerce across the world has expanded due to economies of scales in the present world. The export and import of goods and services among various countries are smoothly carried out due to a large number of international conventions, which have given way to almost identical local laws in some fields being enacted by different nations (e.g., Marine Insurance Act – 1908 of UK or Marine Insurance Act – 1963 India).

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