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A. P. SAHI, INDER JIT SINGH
PEC Limited – Appellant
Versus
Oriental Insurance Co. Ltd. – Respondent
ORDER
A.P. Sahi, President.—This is a complaint by M/s. PEC Limited a Government of India enterprise/ a Public Sector Undertaking alleging that the repudiation of the claim, in respect of a loss of a part of the consignment of Manganese ore at Vishakhapatnam Port, by the opposite party No.1/ Insurance Company is unwarranted. The ground taken, that the complainant/ insured did not have an insurable interest on the insured property on the date of loss, is manifestly erroneous and against record.
2. The background in which the complaint has been filed is that the complainant is a Public Section Undertaking under the Ministry of Commerce incorporated in April, 1971 at New Delhi and the business of the company involves exports, imports, deemed exports, third country trading, arranging, financing logistics, project exports and management. According to the complainant it has expended its role as an international business organizer and a provider of integrated trade facilitating services dealing in the exchange of commodities, goods and services between India and other nationals of the world.
3. It is in the exercise of such of its functions and obligations that it entered into the facilit
Marine Insurance – While settling a claim, assistance of surveyor should be taken but insurer would not be bound by whatever the surveyor has assessed or quantified.
Marine Cargo Specific Voyage Policy – Insurer cannot be held liable for any loss or damage to insured cargo on account of negligence or fault of Master of ship.
A Consignee Sales Agent has an insurable interest which entitles them to claim for losses under an insurance policy despite not owning the goods directly.
Timely and accurate declarations for consignments are critical in marine insurance policies; failure to comply can validate an insurer's repudiation of claims.
(1) Liability – The liability of the Insurance Company under the policy is clear as the claim is reimbursable in terms of the risk cover under clause-1 of the schedule pertaining to the sinking of a ....
The burden of proof in insurance claims lies with the insurer to establish policy violations, and claims cannot be repudiated without substantial evidence supporting such breaches.
The Insurance Company cannot repudiate a valid claim if it failed to advise against potential policy breaches prior to the incident.
The court affirmed that damages due to inundation are covered under the insurance policy, and failure to provide policy terms invalidated the insurance company's repudiation.
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