Page 158 - Misc Ebook IC 78

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was however found that the total value of
property at risk immediately prior to the
loss was Rs. 3 crores. What would be the
amount of claim payable ?

Ans. Sum Insured = Rs. 1,00,00,000
25% of First Loss Insurance = Rs. 25,00,000
But since the total value of the property is 3 crores,
just before the claim,
Claim to be paid = 1 x 120000 = Rs.40,000
3

Q10. d) A banker's indemnity policy was issued
for a sum insured or Rs. 20,00,000 for the
period 01.04.07 to 31.03.08. It was
discovered by the bank on 15.05.08, that
a dishonest employee had cost of loss
totaling Rs. 1,50,000 due to his acts in the
year 07-08. Each dishonest act cost of loss
of Rs.30,000. The policy has an excess of
Rs.15,000. Calculate the amount of claim

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