shall be kept in force to the extent of paid-up sum insured, calculated by means of a formula as approved by the Authority ... section (3) shall not apply-- (i) where the paid-up sum insured by a policy, inclusive of attached bonuses, is less than the amount specified
Insurance Act, 1938
52. Prohibition of business on dividing principle
No insurer shall commence any business upon the dividing principle, that ... periodical actuarial valuation either as reversionary additions to the sums insured or as immediate cash bonuses or otherwise
declarations from the insured. The insured reserve his rights to decide and declare which consignments were to be insured. The insured carried ... sum insured prior to September, 2005.
The insured must disclose to the insurer every material circumstance which is known to the assured. Insurer is entitled
completion of journey. (e) The insurance company shall pay the sum insured in case of accidental death or permanent disability due to any accident/ physical ... insured person for maximum fifty thousand rupees per annum during the policy period. (m) An insured person shall be covered for a sum of Rupees
pleaded that complainant was earlier insured for Rs. 2 lac and then he got insured enhanced sum insured ... more than his entitlement. The total sum amount paid under the policy was more than the original sum insured
satisfactory reply was given to him for the
payment of sum insured of `5,00,000/-. He made so many requests
to the officials ... directions be issued against the opposite parties to pay the total sum
insured under policy i.e. the sum
provided by the Hospital/Nursing Home.
Not exceeding 1% of the Sum Insured per day.
Intensive Care (IC) Unit Expenses as provided by the Hospital ... Nursing Home.
Not exceeding 2% of the Sum Insured per day.
Surgeon, Anaesthetist, Medical Practitioner, Consultants, Specialists Fees
As per the limits of the sum
renewed for the period 17.06.2008 to 16.06.2009 with increase in sum insured from Rs.3,50,000,00/- to Rs.5.00 crores on payment ... renew the above said insurance policy from year to year for sum insured Rs.5.00 crores at the same rate of premium. The last
building comes to ₹52.56 Lacs which is more than
the sum insured of ₹50 Lacs. Hence the pro-rata clause of
average will apply ... insured till date. Keeping in view the sum insured we have assessed
the loss as under:-
S.No. Description Qty. Units Amount Loss
Claimed Assessed
733971 dated 24.05.1999 for the period 24.05.1999 to 23.05.2000, sum insured Rs. 4,00,000/-.
Cover Note No. 2/875204 dated 13.05.2000 for the period ... sum insured Rs. 4,00,000/-.
Cover Note No. 863442 dated 28.03.2000 for the period 28.03.2000 to 27.03.2001, sum insured Rs. 8,00,000/-.
Next
