M/S. WIZARD BIOTECH PVT. LTD Vs. NEW INDIA ASSURANCE CO. LTD.
LAWS(NCD)-2020-10-52
NCDRC
Decided on October 08,2020

M/S. Wizard Biotech Pvt. Ltd Appellant
VERSUS
NEW INDIA ASSURANCE CO. LTD. Respondents

JUDGEMENT

V.K.JAIN - (1.) The complainant/appellant obtained an insurance cover from the respondent company for the period from 15.07.2004 to 14.07.2005 for the premises situated at Gala No. 7A, Laxmi Industrial Estate, Penkar Pada Road, Mira Road (E), Distt. Thane. A renewal notice was sent by the respondent to the appellant company at the address at which the above-referred policy had been issued. The address, however, was changed by the complainant company which gave a new address i.e. 21/21A, Gokul Industrial Estate, Sagabag Opposite Hotel Mahalaxmi, Sakinaka, Andheri(E) Mumbai. Accordingly, the insurance policy for the period from 15.07.2005 to 14.07.2006 was issued at the new address provided by the complainant company.
(2.) The policy issued by the respondent to the appellant for the new location clearly provided that the benefit of insurance in case of loss due to flood will be available to the insured after 30 days of commencement of the risk. The benefit of the insurance in a case of loss due to flood, therefore, was available to the complainant only w.e.f. 15.08.2005.
(3.) The case of the complainant/appellant is that extensive damage due to flood took place at its premises on 26.07.2005. A claim in terms of the insurance policy was, therefore, lodged by the complainant/appellant with the respondent. The claim was repudiated vide letter dated 18.08.2005 which to the extent it is relevant reads as under:- As can be seen from, the policy, the policy was subject to 30 days waiting period for Flood Loss. The words "Flood risk will be commencing after 30 days of commencement of risk" is shown on the face of the policy issued to you. The policy was Issued w.e.f, 15,7.2005 and the loss has occurred within 11 days of the policy issue date. In view of the above, we regret that we are unable to consider your claim and are treating the same as "No Claim". ;


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