Fwd: THEFT CASE

[M S Sainani, Surveyor / Loss Adjuster]

Dear Friends,

Kudos to Ashok for taking the things ahead towards clarity. I feel basic minimal understanding of law, contract law, insurance contract law (to be specific) is important / essential & thus interpretation of insurance clauses, terminologies becomes relatively easy & rational. Those who wish to go deeper on this front may refer to Insurance Case Laws books on Fire, Marine Insurance by Ivamy Hardy & commercial insurance by James E Bird.

For Automobile case laws Bingham's book is the one which is considered authoritative. British Market is having a couple of good books on Standard interpretation of insurance terminologies, clauses etc. It is high-time that some amongst us with legal background (I know there are few surveyors Engineers & CAs who are legally qualified holding degree LLB) comes forward to write book on Standard Interpretations of policies as reference .

Breg

M S Sainani (SLA 15187 - 3/3/17)
+ 91 9414168144 | adjuste...@gmail.com | sai...@adjusterindia.com

Udaipur, Rajasthan.

On 23 March 2015 at 12:31, Girimaji Ashok <avan...@gmail.com> wrote:

Dear Sir

The term " TOTAL LOSS" in insurance applies only to the subject matter as a whole.

Only in case the insured is deprived of the physical possession of the subject matter ( through fraudulent means ,..) it is considered as Total Loss due to Theft. Then the term total loss has relevance.

Theft of tyres is  a partial loss. Theft of tyres can never be a total loss in any sense of motor insurance.

On Mon, Mar 23, 2015 at 12:24 PM, SHRI PRAKASH MISHRA <spm...@gmail.com> wrote:

Dear all
             Exclusions of IMT21 are not applicable for Total loss.Theft is a case of total loss. Tyres and rims are covered here subjected to police final report.Regards.

On 23 Mar 2015 12:18, "Girimaji Ashok" <avan...@gmail.com> wrote:

Dear All

something about IMT-23 & theft of tyres. 

In consideration of payment of an additional premium of Rs....…..*, notwithstanding anything to the contrary contained in the policy it is hereby understood and agreed that subject to conditions (a) (b) and (c) hereunder loss of or damage (excluding theft under any circumstances) to lamps tyres/tubes mudguards bonnet/side parts bumpers headlights and paintwork of damaged portion only is covered provided the vehicle is also damaged at the same time.

Kindly dwell on the yellow highlighted portion.

Theft of tyres is never indemnified by IMT-23,  UNDER ANY CIRCUMSTANCES.                  ( highlighted in yellow)  

IMT-21 pays for only total loss. Never pay of partial loss

IMT_23 will never ever pay for theft ( tyres.)

So, THEFT of tyres is never ever indemnified by the motor policy. 

PRUDENT UNDERWRITING!

On Mon, Mar 23, 2015 at 12:07 PM, SHRI PRAKASH MISHRA <spm...@gmail.com> wrote:

Dear all
             Well said Girimaji. I do agree.

On 23 Mar 2015 11:55, "Girimaji Ashok" <avan...@gmail.com> wrote:

Dear Sir

FACT:

The loss that is being claimed under the policy of motor insurance is a " partial loss", which is an un-disputed fact. Since the insured vehicle has been recovered. Question of total loss just does not exist. 

Now please go through the wordings of IMT-21 which is reproduced below :

"except in the case of Total Loss of the vehicle insured, the insurer shall not be liable under Section I of the policy for loss of or damage to lamps tyres tubes mudguards bonnet side parts bumpers and  paint work."

Please read the highlighted portions: The highlighted portions clearly emphasis the fact that IMT-21 will pay (for tyres) only in case of a total loss.  Implying IMT-21 will never ever pay of partial loss. 

Now, there is a  claim is for partial loss. IMT-21 will pay only for total loss. 

Hence, the loss to tyres only under the policy of motor insurance endorsed with IMT-21 , is not payable. 

On Mon, Mar 23, 2015 at 11:43 AM, Bright Surveyor Investigator Valuer <ss_b...@hotmail.com> wrote:

Its payable sub to police panchnama 

S S BRIGHT                                                   Secretary IIISLA, West Zone

-------- Original message --------
From: 'irfan khan' via IIISLA TECHNICAL GROUP <iiisla-tech...@googlegroups.com>
Date: 23/03/2015 11:29 am (GMT+05:30)
To: iiisla-tech...@googlegroups.com
Subject: THEFT CASE

Dear Sir,

A parked truck was stolen and recovered on the very next day in nearby jungle without rear wheels (8 nos). In this case tyres & wheel rims are covered or not.

 

Thanks & Regards

Irfan Ashhad Khan
9415148998

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WARM REGARDS
ASHOK GIRIMAJI
Insurance Surveyor & loss Assessor
Chartered Engineer

SHIMOGA - 577201

KARNATAKA
+91 8861077536
 
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WARM REGARDS
ASHOK GIRIMAJI
Insurance Surveyor & loss Assessor
Chartered Engineer

SHIMOGA - 577201

KARNATAKA
+91 8861077536
 
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WARM REGARDS
ASHOK GIRIMAJI
Insurance Surveyor & loss Assessor
Chartered Engineer

SHIMOGA - 577201

KARNATAKA
+91 8861077536
 
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[J.k Sharma]

Dear All:

Why the Tyre is not payable, In my opinion when the vehicle was stolen, it was property loss, not the motor accidental loss and after recovery there was loss of property amounting the cost of tyres. Where and why I M T is to apply. 

Again sir, 

One tractor was stolen, The report was lodged in P.S.. The investigations were on and after 2 months the police recovered the Rear 2 Wheels with Rims and Mudguard. These were lying with a vender. As the Regn. no. was written on it. I was deputed to recover the property and assessment of the loss. 

It was a simple comprehensive policy and no endorsement was done. The tractor was a new one. 

Rather I have settled claim as total loss and the recovered parts were sold in salvage.( Being the part of stolen Property) 

After going through the above discussion: 

1. Should we deduct the cost of Tyre, Mudguard, Plow Lamp as these parts were not covered under the policy. But these are the integral parts of the  stolen unit. 

    If we deduct the cost of these parts from the sum insured, than why not we pay if these parts are stolen along with the vehicle but recovered without these parts. 

I do agree with the explanation carried out by sh. Ashok Grima ji and others.But am of the opinion that, In above cited claim the tyres should be paid fully. The accidental terms should not be apply. This is the loss in insured property. The learned members may explain better the terms of insurance contract by interpreting the applicability of Terms condition and clauses. 

It is for the discussion only: 

With Regard's

dadashree.sharma

Karnal Haryan. 

9354108188

9728335537

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[NARESH K TAGOTRA]

Dear Mr. Khan,

As per your reported cause the claim to loss of tyres is payable subject to depriciation.

The explaination by Mr. Ashok is explained in details , but is missing the fact that as per your reported version the entire vehicle had been stolen and is in fact a total loss and later had been recovered at another location though had been recovered very shortly. Which implies that total loss of vehicle due to theft had occured but since the vehicle had been recovered later thereby is now a partial loss. 

Since the condition of entire vehicle theft had been met with thereby the claim is payable for partial loss. The version reported for cause of loss will however need proper investigations to establish that reproted cause and details are correct. Had the theft of tyres occured where the vehicle had been parked the claim will not be payable.

REGARDS

NARESH TAGOTRA

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WARM REGARDS
ASHOK GIRIMAJI
Insurance Surveyor & loss Assessor
Chartered Engineer

SHIMOGA - 577201

KARNATAKA
+91 8861077536
 
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