Page 37 - Fire Insurance Ebook IC 57
P. 37
The Insurance Times
(a) exercise of these rights does not mean admission
of loss liability
(b) forfeiture of the benefit under the policy in case of
non cooperation of the insured.
(c) the insured has no right to abandon the property
whether taken possession by the insurer or not.
This condition confers certain rights on the insures to
ascertain the cause and extent of loss/damage to minimize
the damage and to protect the salvage. The rights
conferred by the condition are exercisable by the insurer
at any time until notice in writing is given by the
insured declining claim or such claim is finally
determined or withdrawn.
(iv) Right of abandonment - The right to abandonment
arises under a Marine policy, where the Insured can
abandon to the to the Insurers, property which is
extensively damaged and claim a total loss. This right is
however, denied under a fire policy.
This condition confers certain rights on the insures to
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