Page 196 - Misc Ebook IC 78

The Insurance Times

medals and coins, etc are excluded unless
specifically mentioned and agreed upon.
(v) Usual exclusions like war and allied risks, riot and
strike risks, depreciation, wear and tear,
consequential losses.

An extension of the policy is often sought in respect of
riot and strikes and terrorism. If the risk of dacoity has
to be included, the risk of riot has to be automatically
included.

Each and every item specified in the schedule is
separately subject to average, whereby if the property
insured at the time of loss or damage shall be of greater
value than the sum insured, the insured shall have to
bear a rateable proportion of the loss accordingly. If the
insurer requires

In case of a loss, an immediate notice is to be given to
the insurer, describing the circumstances of loss. Within
7 days of the notice, the insured has to lodge a detailed
statement in writing, stating the loss or damage with an

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