Re: Valuable Opinion Required in Shop Keeper Policy

[Prem Chandra Shukla]

Dear Gupta jee,

The bursting of battery sometime due to interrupt gases formed probably in the electrolytic process. Vent and plugs are provided for escape. But sometime the  gases could not escape and you find bursting.effect.

To my mind this is not explosion/ implosion as covered in the policy. The explosion covered is for pressure vessel except for steam generating plant. The peril for explosion is for equipment which by virtue of their operation remain or generate pressure of gases or liquid either by chemical reaction or sustain heat. Battery is not a.pressure equipment. It fails becasue of electrical reason. So in my.opinion it's not a case of explosion.

P.C.Shukla

9415044156

On Jun 16, 2018 8:21 PM, "Sanjeev Gupta" <sgass...@rediffmail.com> wrote:

Dear All,

Please give your valuable opinions for a case as per circumstances given below :

A trader of clothes, ready made garments has taken a SKI policy and one good day there is a blast in the
battery fitted with the invertor installed in his shop. Due to sudden explosion in the battery the acid
sprinkles out and damage the stocks of ready made clothes, dresses lying there in the shop.

My querry is whether the loss to the stocks of ready made items is covered under the head
"Explosion/Implosion" as covered under the SKI policy.

Looking forward to the opinion of learned members.

Thanks & regards,

SANJEEV GUPTA
Surveyor & Loss Assessor,
Ist Floor, Vishawkarma Market,
Dhangu Road, Pathankot.
0186-22 26162 (O)
094170-26162 (M)

[Pankaj Srivastava]

Dear Sir

In my opinion the cause is overcharging due to which battery over heated and there is blast in battery, probably this happen when battery become old. This is not explosion.

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Thanks

Pankaj Srivastava (Fellow Member IIISLA)

Insurance Surveyor / Loss Assessor

& Investigator
D- 1/13 Sector- I
Aliganj, Lucknow-226024
09415027163
09621501048
0522-4078624

panka...@gmail.com

[Rajesh Gupta]

Dear Members,

Opinion/discussion in respect to Case situation in MBD/EEI Policies

CASE 1

S.I.                                Rs. 5.00 Lakh

Value At Risk              Rs.4.50 Lakh + Rs.0.81 Lakh (GST)  = Rs.5.31 Lakh.  ( Note Mention of GST here )

Repair Value               Rs.2.00 Lakh + Rs.0.36 Lakh (GST)   = Rs.2.36 Lakh

(Request please don't go for claim assessment procedure like deduction of depreciation,salvage,clause,etc. but reason the query as under) 

Question :  A)    If insured ready to Claim the Input Credit of GST what would be the Value at Risk ( Adequacy ) as the Loss assessment amount is restricted to Rs.2.00 Lakh in that case and the Landing Cost of the Machine would be Rs.4.50 Lakh as for new machine too he would claim GST Input Credit.

CASE 2               ( Machine is Total Loss )

S.I.                               Rs. 5.00 Lakh

Value At Risk              Rs.4.50 Lakh + Rs.0.81 Lakh (GST)  = Rs.5.31 Lakh.  ( Note Mention of GST here )

Question :  A)    The  insured replaces the damaged Machine by New One and provides the Purchase Bill and is ready to Claim the Input Credit of GST what would be the value at Risk ( Adequacy ) and value of Machine to be considered for the Loss assessment on Total Loss Basis.

Question :  B)    The  insured not ready to replace the damaged Machine by New One and asks to declare it as Total Loss and idemnify for the loss. What would be the value at Risk ( Adequacy ) and value of Machine to be considered for the Loss assessment on Total loss Basis.

Best Regards

 
Rajesh Gupta
Surveyor and Loss Assessor, 
37-P, Sector-4, Trikuta Nagar,
Jammu-180012
Jammu and Kashmir
Mobile No: 9419189257
Ph: 0191-2473153

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From: insurance...@googlegroups.com <insurance...@googlegroups.com> on behalf of Prem Chandra Shukla <pcshuk...@gmail.com>
Sent: Sunday, June 17, 2018 10:16 AM
To: SONIA MAHAJAN
Cc: IIISLA GROUP; Iiisla-bengal; iiisla-s...@googlegroups.com; insurance...@googlegroups.com
Subject: {Surveyors:32271} Re: Valuable Opinion Required in Shop Keeper Policy

 

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[Sanjeev Gupta]

[SANJAY VARSHNEY]

Dear Sir,

Somtimes during the process of charging and discharging in a battery fumes are generated due to chemical reaction and it is noted the vent and plugs gets chocked as a result the battery gets overheat and burst with lot of sound similar to the explosion effect but it is only due to poor maintenance of the batteries or sometimes due to its self life of use.

Regards

Sanjay Varshney

Surveyor 

9839010675

Sent from Yahoo Mail on Android

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[dcs raju]

Dear Sir,
In either case, the sum insured is required to be including tax, as per sum insured proviso. Sum Insured to represent replacement cost incuding taxes, duties and commissioning costs.

Tax input credit differs from case to case, and may change from time to time. Hence, in my opinion, SI is a sort of bench mark, which is clearly spelt to include all costs, including tax like GST, and its input credit facility has no effect while calculating adequacy of SI.

Regards,
dcs raju

[Ashraff Tim]

Very rightly said Sir

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[Chand Bhatia]

I will prefer to follow one basic thing that what ever are the parameters taken for SI, same should be adopted for liss assessment. Normally in case of engineering policy landed cost plus installation cost are taken as SI. Now if input tax credit is availed then landed cost is without tax of course. Eventuality in repairs also the input tax credit shall be available and should be excluded from the claim.

On Sun, 1 Jul 2018 at 8:15 AM, Ashraff Tim <tim56....@gmail.com> wrote:

Very rightly said Sir

On Sun, Jul 1, 2018 at 7:48 AM, dcs raju <dasara...@gmail.com> wrote:

Dear Sir,
In either case, the sum insured is required to be including tax, as per sum insured proviso. Sum Insured to represent replacement cost incuding taxes, duties and commissioning costs.

Tax input credit differs from case to case, and may change from time to time. Hence, in my opinion, SI is a sort of bench mark, which is clearly spelt to include all costs, including tax like GST, and its input credit facility has no effect while calculating adequacy of SI.

Regards,
dcs raju

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c k bhatia
09810231248