Page 102 - Misc Ebook IC 78

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particulars and evidences should be submitted to
substantiate the claim.

A happening of any event, giving rise or likely to give
rise to a claim, the insured is to immediately notify the
police, take all possible steps to apprehend the guilty
person and to recover the lost property. If the insurance
requires, the insured have to take steps for the
prosecution and conviction of the guilty and recovery of
the property from such persons. The expenses however,
will be borne by the insurer.

Q3. Write a detailed note on shopkeepers
insurance policy.

Ans. The Shopkeeper Insurance Policy is a market agreement
cover, which has been devised to cater to the needs of
small shopkeepers. The criterion is that the value of
property at risk, including the building covered, should
not exceed Rs. 10 lacs. In case it exceeds, Shop keepers
policy cannot be issued at all.

It is not permissible even to issue a Shopkeepers policy
up to at the Sum insured of Rs. 10 lacs and issue specific

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