Page 70 - Insurance Surveyors Book Ebook IC S01

Survey And Loss Assessment IC-S01

A breach of condition precedent will enable the insurer to avoid the policy from

its commencement

A breach of condition subsequent will entitle the insurer to avoid the policy after

the breach has occurred

A breach of condition precedent to liability will prevent the insured from

recovering a particular loss, the policy remaining unaffected

Endorsements

If any modifications are required in the policy already issued, it is done through by

attaching a memorandum to the policy known as endorsement. It is attached to the

policy and forms part of it. Endorsements can also be issued during the currency of

the policy to record alterations.

Interpretation of policies

The most important rule of construction is that the intention of the parties must

prevail and this intention is to be looked for in the policy itself. If the policy is

issued in an ambiguous manner it will be interpreted by the courts in favour of

the insured.

Written portion overrides the printed portion

Policy is to be interpreted as a whole, not in parts

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