sum insured was Rs. Three crores, subsequently
increased to Rs. Six crores. On 27.5.2004 the respondent requested
the insurer to increase the sum insured ... said sum was arrived at on the
basis that the sum insured was Rs.12 crores, the actual value of stocks
in the godowns
constituted the contract under which the insurer
agreed to issue separate Marine Insurance Certificates as and when the
insured made declarations of each shipment ... insured) & dispatch with its
value packing marks etc. Total sum insured under this policy is Rs.50 lakhs.
Risk covered : All risks
Schedule, to pay the sum assured (together with such
further sum or sums as may be allocated by way of Bonus
in the case ... insurance policy by the insured to the general agent of the
LIC can be regarded as payment to the insurer so as to
constitute
insurer and the insured represents a
contract between the parties. Since the insurer undertakes to compensate
9
the loss suffered by the insured on account ... insurer. The insured cannot claim
anything more than what is covered by the insurance policy. That being
so, the insured has also to act strictly
recover any such sum from the insured if the insurer were not otherwise liable to pay such sum to the insured by virtue ... insured to pay that amount to the insurer. In default the insurer shall be allowed to recover that amount (which the insurer is directed
insurer and the insured represents a
contract between the parties. Since the insurer undertakes to compensate
9
the loss suffered by the insured on account ... insurer. The insured cannot claim
anything more than what is covered by the insurance policy. That being
so, the insured has also to act strictly
insurer vis-`-vis the assignee. On execution of a
letter of subrogation, the insurer becomes entitled to
recover in terms of it, a sum ... because the insurer has settled the claim for
Rs.75,000/- and the instrument merely entitles the insurer
to receive the said sum
insurer makes its own
enquiries and satisfies itself about its liability and
voluntarily assesses and pays the compensation to the
victim. Only where the insurer ... offer a
compensation, either a lump sum or an annuity. Similarly
in cases of injuries, the insurers can offer treatment in
hospitals approved
insurer and insured in the scheme
contained in Chapters XI and XII of the Act.
4.1) Section 149 deals with the duty of insurers ... that sum by virtue of any enactment relating to
interest on judgments.
(2) No sum shall be payable by an insurer under sub-section
damages is made up of the loss of dependency plus a token sum towards loss of estate. In the
event of a claimant being ... sum awarded under the head of
'mental agony of parents' is omitted.
5. It was submitted that as the Insurer has not challenged
