Heavy rain damage falls under flood cover
Business Standard|September 02, 2024
Geekay International, a business specialising in cloth and garments, had secured a Standard Fire and Special Perils Policy from National Insurance Co.
JEHANGIR B GAI
Heavy rain damage falls under flood cover

This policy provided coverage for stock stored at its business premises, which were leased under a leave and licence agreement.

During the policy period of 2011-2012, heavy rains struck Mumbai on August 18, 2011. The intense downpourled to a partial collapse of the building, including the premises housing the insured's business. As a result, the stock suffered significant water damage.

The insured promptly informed the insurer, which then appointed a surveyor to assess the damage and determine the value of the loss. However, the claim was later repudiated on the grounds that the policy did not cover damage resulting from heavy rains.

هذه القصة مأخوذة من طبعة September 02, 2024 من Business Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة September 02, 2024 من Business Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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