NOW LETS

TEST
YOUR
MEMORY..
DO YOU REMEMBER
INSURANCE CASES???

CASE 1
Aditya

gets his house insured against fire for

10lakhs with insurer A and for 5lakhs with
insurer B .A loss of 3lakhs occurred .

Q- How much compensation can he claim

from A and B ? Give reasons
Q- which principle of insurance implied here?

CASE 2
Company

A had its truck insured for accident

and apples for loss by theft . The truck while
carrying apples to the market met with an
accident . By this time apples had fallen down
on the road and got spoiled .

Insurance

company is ready to compensate

for the damage to truck but company A wants
compensation for the loss of apples too ? Will
they get compensated ? Why or why not ?

CASE 3
Shubham

has taken a loan from Saurabh

against the security of his factory .

Q- Can Saurabh take a fire insurance of that

factory ? Give reasons.
Q- name the principle implied here?

CASE 4
Mr. Rakesh got his factory insured against fire
. On 31st december ,2013 fire was caught in
the factory and a call was made by the
security guard informing rakesh about the
burning factory . Mr. rakesh told the security
guard to leave that place and go home .
Next day mr. rakesh visits the insurance
company and asks for compensation .
Q- Can insurance company refuse to
compensate . Why or why not ?
Q- Name the insurance principle implied?

CASE 5
If a person buys full insurance on a
commercial building that same person coowns only a total of 50% share . If this
building insured gets destroyed accidently .
Q- Will the co owner be able to get full
compensation for the damage to building ?
Why or why not ?
Q- Name the insurance principle?

CASE 6
A ship worth Rs 60 crores got turned
upside down due to high and heavy
waves. The ship was insured with the
insurance company with its orignal
cost. To bring It to its actual position it
costed Rs 80 crores.
Q- Will they get the compensation of 80
crores or 60 crores? Give reasons?
Q- which ensurance principle implied?