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
that was insured with insurer broke
down and could not be started. The spot survey was got
conducted by the insurer and on the advice ... sum insured is less than the amount required
to be insured, the insurer will pay only in such proportion as the
sum insured bears
first time in 1990 for a sum of Rs.90,000=00. The sum insured under the policy was thereafter revised to Rs.3 lakhs ... Insurers. It was also submitted that it is only when the sum insured was to be enhanced at the time of renewal that the question
sum
insured “is less than the amount required to be insured ……. the company
will pay only in such proportion as the sum insured bears ... said sum and contend that the real value was
something different from what was declared by the parties to be the sum
insured
first time in 1990 for a sum of Rs. 90,000. The sum insured under the policy was thereafter revised to Rs. 3 lakhs from ... insurers. It was also submitted that it is only when the sum insured was to be enhanced at the time of renewal that the question
outward, violent and visible means, then the insurer shall pay to the insured the sums specified in the policy. If the injury, was within ... direct cause of death of an insured person, the insurer is to pay the capital sum insured stated against the name of the insured person
Where the assured is over-
insured by double insurance, each insurer is bound, as
between himself and the other insurers, to contribute
ratably ... receive two sums instead of one, or the same sum twice over, for the
same loss, by reason of having made two insurances upon
received Rs 6 crores from
the insured, taking that into account, the respondent was awarded a
total sum of Rs.32.44 crores(approx) alongwith ... This sum will afford an indemnity in respect of reduction in
the turnover of the business; but the insured will also require
compensation
greater value than the sum insured
thereon, then the insured shall be considered as
being his own insurer for the difference and shall
bear ... collectively greater
value than the sum insured thereon, then the
Insured shall be considered as being his own
insurer for the difference and shall bear
Insured :
44. In all cases where the insurers cancel the policy, the refund
will be on pro-rata basis.
11. Mid-term revision in sum ... insurer, description of the movable and immovable property
and the interest therein, location of the property insured under the
policy, the period of insurance, sums
