Page 54 - Misc Ebook IC 78
P. 54
The Insurance Times
Sanchar Yatra Mitra Policy provides that in the event of
payment claim for total loss of baggage, any recovery
from the particular airlines in terms of warsaw
convention shall become the property of insurers.
Since this particular section of policy covers property,
the principle of indemnity can be followed strictly.
Principle of Contribution - This principle does not hold
good for policies where the contract is not of indemnity.
An insured person hold several personal accident policies
and are entitled to their full benefits.
The weekly compensations are however limited to Rs
300 per week irrespective of the total sum insured. If
the policies are issued by different companies and the
total sum insured exceeds Rs 3 lakhs in respect of TTD
benefit, liability of each company then becomes
proportionate to the respective sum insured.
In respect of medical expenses too there arise sharing
of liability among the different insurers. When the
expenses incurred exceeds the total sum insured, each
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