account variation
in the stock and around 14% cut by applying average
clause. Complainant's further grievance is that its
functionaries had not been ... variation. As regards the cut made, on
account of average clause, it is stated that
complainant claimed a sum of `64,53,000/-, on
account
rounded off to Rs.19,19,077 after application of average clause. Under the head average clause, the loss assessor explained that he applied average ... invites average clause.
A perusal of the insurance policy made it clear that there is no clause like average clause in the policy. Therefore
goods were much more than
that, therefore, the surveyor applied the average clause and
ultimately he assessed the loss at Rs. 55,987/- to which ... tune
of Rs. 1,50,300/- after applying the average clause. The loss
payable was said to be Rs. 55,986/-. The main grouse
made by him before the police.
Hence surveyor has rightly applied average clause and assessed the
loss at Rs.1,69,344/-. Therefore after receipt ... Loya learned counsel appearing for the appellants pointing
out average clause from the copy of insurance policy submitted that
since undisputedly value of the stock
stock was reduced by 2.5%, on
account of dead-stock. Then, average clause was
applied, as the value of total stock at the time ... figure, arrived at by applying average clause,
`10,000/- were reduced on account of excess clause
and a total amount of `57,095/-, was reported
deducted a sum of Rs. 1,30,682/- as average clause since he found that building was under insured as the market value ... lakhs at that time. He has questioned the deduction of average clause but we find that assessment of the market value of the building
Industries (RP No.342/2013 ), no subsequent deduction on account of average clause could be made, as no such condition was mentioned in the Policy ... loss as Rs.3,78,750/-, the Surveyor erroneously applied average clause by taking into account stock statements for the last two months
refused by the Complainant. Such Chartered Accountant used an average clause and an effort was made to show higher under-insurance by bringing godown
2015)
_________________________________________________________________________
to the tune of `98.00 lacs. Surveyor applied the
average clause, per which, the loss is to be borne
by the insured
means, the building, in question, was under insured
and by applying average clause appearing in the
policy, the amount of money payable to the
respondent
