Page 86 - Misc Ebook IC 78
P. 86
The Insurance Times
judgement, if to continue the policy as before, or re
determine the policy or to levy an additional premium
if necessary. The breach of this condition can relieve
the insurers of all the liabilities of the policy.
(ii) Notice of Claim - The employer must give an
immediate notice to the insurers on the discovery of
any of the insured act by the employee. The claim
has to be lodged within three months of the initial
notice, accompanied by full particulars and proofs
as per the satisfaction of the insurers. After the loss
is paid, the policy has to be submitted to the insurers
for cancellation and discharge. If the policy is a
floater or collective or positions or blanket, it ceases
to cover the defaulting employee on from the date
the loss was discovered.
(iii) Prosecution - The insurers reserve the right to insist
on the criminal prosecution of the employee, even
to the extent of bearing the expenses in the event of
conviction. The purpose is to put to the test of law
the allegations of an employer and to bring to books
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