insured vehicle prior to the alleged accident thus as per All India
Motor Tariff formulated by IRDA you have no insurable interest in this
claim ... insurer for claim settlement process as vehicle was
sold out by insured to his friend.
So in this claim there is No Insurable Interest
owner of vessel and the said vessel is insurable property
and complainant is having insurable interest in the said vessel therefore,
the policy was issued ... insured and policy was issued on the name of the insured. It was held
that the purchaser has insurable interest. The insurance company
cannot repudiate
considered by the ld. District Commission.
That the complainant was no insurable interest on the date of
accident.
5.3 It is further argued that ... been sold
before 2 months (As per Sale agreement). Hence the Insurable
Interest does not exist.
M. B. Desai A-21-299 Page
sold out
vehicle to complainant no. 2 so he had no insurable
interest and that since the insurance was not in the name ... same breath to
thwart the justifiable claim of the insured. Regarding
insurable interest Hon'ble National Commission in case
said goods insured as per "Insurance Cargo Clause (A);
inter alia on warehouse to warehouse basis, and complainant‟s insurable
interest in the subject ... consignee at the port of discharge the
complainant had no insurable interest over the subject goods the risk
wherein having been passed over
vehicle was not in the
name of insured on the date of loss, there is no insurable interest; hence
ICICI General Insurance Com. Ltd. shall ... vehicle and issued policy containing her as insured.
Therefore, she had insurable interest in the vehicle. This is not a case of
transfer of policy
amount from the insurer.
11. The argument of the learned counsel is specious inasmuch as a
carrier does have an insurable interest in the goods ... insured by purchasing the
policy in question. Thus, it is not a case where respondent/complainant does
not have any insurable interest in the insured
done. In the light of same, it
is found that no insurable interest exists at the material time of
occurrence.
With reference ... case as it is given to
understand.
As there is no Insurable interest at the material time of
accident/loss, we hereby decline the liability
after two
years saying "since as on date of loss, insurable interest does not exist
hence claim is not payable ... Therefore, on date of accident i.e. 20-09-2011,
insured has no insurable interest and complainant had not intimated to
insurance company about purchase
without any reason and finally repudiated his claim citing
"Non Insurable Interest" vide letter dated 31.07.2015.
A legal notice dated 25.08.2015 was sent ... complainant by the insurance
company on the ground of 'Non Insurable Interest', the
insurance company have been deficient in their services. By
repudiating
