Page 200 - Liability Insurance IC74

The Insurance Times

nursing or other expenses likely to be incurred in the
future as a result of the injury suffered. (iii) the loss of
opportunity job market and (iv) loss of matrimonial
prospects.

The value of future losses is suitably at adjusted by the
Court suitably upwards or downwards, to reflect (i)
immediate receipt of money with potential for earning
investment income.(ii) other benefits received by the
legal heirs through succession to property is all monies
of the deceased.(iii) the changing circumstances of life,
for e.g, widow remarriage and (iv) inflation.

(b) Explain the covers which can be offered to
Road Transport Companies -
Ans. The Carriers Legal Liability policy is offered to Road
Transport Companies carrying on the business of
common carriers . In terms of the carriers Legal Liability
Act, Road Transporters were absolutely liable for losses
to cargo in their custody whilst in transit. The recently
amended Carriers Act has reduced the liability.
However, it is not a be brought into force as the rules
for the implementation has not been framed properly.

There are two types of cover available:
A. Basic - it provides for liability on the Carrier arising

Website: www.bimabazaar.com Call: 033-22184184 / 40078428 196

Copyright@ The Insurance Times. 09883398055 / 09883380339