Homeowners Insurance – Beware of wear & tear.
Click here to download a case study from the Short-Term Ombud #forewarnedisforearmed
Continue reading →Category Archives: News
Making claims preparation simple
The way that data is presented to insurers is key to recovering your claim. The quality of the information you provide will determine the insurance claim outcome. It needs to be accurate and justifiable in order to maintain your credibility … Continue reading →
Fire safety at home
Safety Around the Home Electricity surrounds us – shaping the universe in which we live and driving modern society of which we are a part. It permeates the physical world completely. Thus, to know more about it and to understand … Continue reading →
Principle of Insurance – No 7
Principle of ‘Causa Proxima’: The loss of insured property can be caused by more than one cause in succession to another. The property may be insured against some causes and not against all causes. In such an instance, the proximate … Continue reading →
Principle of Insurance – No 6
Principle of Loss Minimization: According to the Principle of Loss Minimization the insured must always try his level best to minimize the loss of the insured property. The insured must take all possible measures and necessary steps to control and … Continue reading →
Principle of Insurance – No 5
Principle of Subrogation: As per this principle after the insured is compensated for the loss due to damage to property insured, then the right of ownership of such property passes onto the insurer. This principle is corollary of the principle … Continue reading →
Principles of Insurance – No 4
Principle of Contribution: The principle is a corollary of the principal of indemnity. It is applicable to all contracts of indemnity. Under this principle the insured can claim the compensation only to the extent of actual loss. If the … Continue reading →
Principles of Insurance – No 3
Principle of Indemnity: Indemnity means a guarantee or assurance to put the insured in the same position in which he was immediately prior to the happening of the uncertain event. The insurer undertakes to make good the loss. 2. … Continue reading →
Principles of Insurance – No 2
Principle of Insurable Interest: The principle of insurable interest states that the person getting insured must have insurable interest in the object of insurance. A person has an insurable interest when the physical existence of the insured object gives him … Continue reading →
Principles of Insurance – No 1
Principle of Utmost Good Faith: Both the parties i.e. the insured and the insurer should show good faith towards each other. The insured must provide the insurer complete, correct and clear information of subject matter. The insurer must provide the … Continue reading →