Mr. Justice P.K. Shamsuddin, President—This appeal is directed against the order passed by the District Forum, Ernakulam, in O.P. No. 506/1994. The Opposite Party is the appellant.

2. Briefly stated, the allegations in the complaint are as follows:

The appellant is the owner of a fishing vessel and it was purchased by availing a loan from the first Opposite Party Bank and it was insured with the second Opposite Party. As part of the loan transaction, the vessel had been insured in the name of the first Opposite Party under account of the complainant and the premium had been paid by the first Opposite Party Bank and premium amount is debited in the loan account of the complainant. The vessel met with an accident on 10.7.1993 and the complainant submitted a claim with the second Opposite Party who ordered a survey but subsequently they intimated the complainant that there was no insurance coverage on the date of the accident due to non-payment of the third instalment of the premium of that year. It is common ground that in the case of Marine Hull Insurance Policy it was issued after valuation and the premium is paid in three instalments, that is 40% of the amount on taking the pol