Page 35 - Fire Insurance Ebook IC 57

The Insurance Times

is deducted from the claim amount.

The continuous cover to the full extent will be
available not withstanding any previous loss for which
the may have paid irrespective of the fact whether
additional premium has been paid or not. However, in
case the insured immediately closes his policy,
following a loss, then the sum insured shall stand
reduced by the amount of loss.

10. Write short notes on:

(i) Material alteration condition- Under the Material
alteration conditions, the insurance cease to attach as
regards to the property affected.
(a) Changes in trade or manufacture or nature of
occupation or other circumstances which increase
the risk of loss or damage by insured perils.
(b) Un occupancy of the building for a period of more
than 30 days
(c) Transfer of insurable interest unless by will or
operation of law.

Website: www.bimabazaar.com Call: 033-22184184 / 40078428 48

Copyright@ The Insurance Times. 09883398055 / 09883380339