T M BABY Vs. NATIONAL INSURANCE CO LTD
LAWS(KERCDRC)-2010-7-4
KERALA STATE CONSUMER DISPUTES REDRESSAL COMMISSION
Decided on July 29,2010

T M Baby Appellant
VERSUS
NATIONAL INSURANCE CO LTD Respondents

JUDGEMENT

- (1.) THE appellant is the complainant in CC No. 69/2006 in the file of CDRF, Ernakulam. The complaint stands dismissed.
(2.) THE case of the complainant is that he was running a rubber band manufacturing SSI unit and insured with the opposite party for Rs. 7,00,000/ -. The stock got damaged in the flood that occurred on 06 -09 -2005. According to him, the total stock at the time amounted to Rs. 2,50,000/ -. In the flood, 1280 kg of rubber tube, finished rubber band etc got damaged and he sustained loss of Rs. 1,13,920/ -. The Insurance Company allowed only Rs. 4,080/ -. He has claimed Rs. 1,13,920/ - with interest at 12% from the date of the claim.
(3.) THE opposite parties/Insurance Company has filed version denying the case that he sustained loss of Rs. 1,13,920/ -. The Surveyor has assessed the net loss at Rs. 14,080/ -. The Surveyor has assessed the loss, ie, the value of 1280 kg of rubber at Rs. 76,800/ -. On application of condition No. 10 of the Contract of Insurance with respect to under insurance the loss payable was taken as Rs. 14,080/ -. As per general exclusions No. 1(b), the first Rs. 10,000/ - will not be covered. After deducting the above policy excess the amount liable to be paid is Rs. 4,080/ -. It is pointed out that as per the Surveyor stock to the extent of Rs. 20,00,000/ - was available whereas insurance was only for Rs. 4,00,000/ -. Evidence adduced consisted of the testimony of PW1 the complainant, DW1 the Surveyor, Exts. A1, A2 and B1, B2.;


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