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
basic sum insured under the existing
policy is concerned.
[3] In cases where the insured seeks an
enhancement of the amount of sum insured ... Insured 30 days notice by
registered letter at the insured last known
address and in such event the Company shall
refund to the Insured
policy, the insurer has agreed to indemnify the insured against all sums which the insured shall become legally liable to pay in respect of death ... policy, the insurer has agreed to indemnify the insured against all sums which the insured shall become legally liable to pay in respect of death
person but not exceeding in any one period of insurance the sum
insured in aggregate state in the schedule hereto."
4.1 Such diseases which ... insured 30 days notice by registered
letter at the insureds last known address and in such event the company shall
refund to the insured
Insurance Company solely on the ground
that the vehicle though registered and insured as a private
vehicle, at the time of theft, was being used ... complainant respondent was thus entitled to
the 75% of the sum insured. Consequently, the State
Commission directed the appellant herein
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
insurers to satisfy
judgments and awards against
persons insured in respect of third
party risks.-
(1) x x x
(2) No sum shall be payable ... recover any such sum
from the insured, if the insurer were
not otherwise liable to pay such sum
to the insured by virtue
Aackagc Policy" ~--- This cuvcrs loss (3: damage to [he vchiclt:
" insured ("own damage") £n addiiiun to (1') above ... give mzme smd Capital Sum Insured (CSO
V opiédfor. The maxirrmm CS1 availabie per persorz is
x ' ._Rs'. 2 Zakhs in the case
recover any such sum from the insured if the insurer were not otherwise liable to pay such sum to the insured by virtue ... recovered from the insured if as per the policy conditions the insurer had no liability to pay such sum to the insured. . . .
25. The position
this case the appeiiant has collected from the
insured a sum of Rs.785/-. Therefore, the insurer has to
II
account for the amount ... instance
case, the appellant has collected from the insured a sum of
Rs.750/-. There is excess of Rs.400/- collected over and
above
