time of loss was ₹25,40,963/-.
Further after applying average clause etc., the surveyor pointed
out that the complainant was entitled ... version of the complainant, for
₹15,00,000/-, so the average clause as per the policy conditions is
applicable and by applying the same
policy, the surveyor assessed the loss of Rs.95660/- after applying average clause thereto. The OPs/company paid Rs.85659/- after deducting excess clause ... rebutted on the record. We hold that after applying under insurance clause, average clause etc, the surveyor rightly found the net assessed loss
building was under insured and
65.35% amount was deducted under the
average clause. He also submitted that
4000 pieces of sample items are not stock ... also under insurance and under clause
10 of the policy the average clause would
apply and deduction has to be made. We
have heard both
30927/- (Thirty thousand nine hundred twenty
seven) after adjustment of average clause. State Commission
also perused annexures OP-1 to OP-6 tendered ... nine hundred
twenty seven) after deduction of salvage and after applying
average clause. State Commission has carefully perused the
report submitted by Rajneesh Kumar Dhiman
than
the sum insured of ₹50 Lacs. Hence the pro-rata clause of
average will apply to that extent."
The complainant has submitted ... VALUATION Para of the report, the average clause
will apply. Loss after applying pro-rata clause of average
1,71,000x50
reflected in
the order, is that the average clause cannot be applied when the difference
between the value at risk and the sum insured
Bank Stock Statement and in clause 23 of his report, he compared the assessment of loss by alternative method. Clause 23 of his report ... assessment.
Gross Losss Assessed
Trade Discount
Dead Stock Factor @5%
Salvage
Average Clause
Net Loss Assessed(Rs)
13413550.87
400370.63
650659.00
555985.00
NIL
11806536.24
Less: Excess
which is under-insurance. Hence the opposite parties
rightly applied average clause and made proportionate deduction on
account of under-insurance and assessed ... parties have rightly
First Appeal No.518 of 2017 10
applied average clause and made proportionate deduction on
account of under-insurance and assessed
post accounting of non-availability/maintainability of stock records,
average clause/under insurance based on valuation of stocks.
However, it was pointed in the survey
insured following a loss at pro-rata additional premium.
Average clause (upto 15% under insurance ignored).
Claims co-operation clause.
War & civil war exclusion ... insured following a loss at pro-rata additional premium.
2. Average clause (upto 15% under insurance ignored)
3. Claims co-operation clause
