Insurencne Policy
Y V Vishweshwar Rao
(Querist) 06 September 2010
This query is : Resolved
One of my Client - Hospital /Clinic has obtained a Compact Insurance Policy .The X- Ray Unit and other equipment are insured.
Valuation of loss - Insurance Condition in the policy in respect of the X- Ray Tube - shall be counted with reference to number of exposures - not with reference to age of the unit / tube .
The 40,000 Tube exposure will be treated as 100 % depreciation - in fact the party X-Ray Tube has only 8000 exposures and the value to be calculated for 100 % for replacement of tube & etc . -- The party incurred Rs;- 50,000/- for Tube and other required allied services to the Unit .The party claimed the same amount 50,000-00 from the Insurance company - but the Insurance Co. paid only 5,000-00 stating that the unit is of old and 90 % depreciation is calculated .
I request the learned friends to suggest the course of action to my client to get the 100 % replacement amount from the Insurance company.
Devajyoti Barman
(Expert) 06 September 2010
If in the insurance policy the use of the tube for 8000 times gives right to the insured for 100% replacement then the refusal of the insurance company is surely within the ambit of deficiency of service and filing complaint before the consumer forum should yield desirable result.
Uma parameswaran
(Expert) 06 September 2010
For 40,000 exposure ,8000 exposure only taken place .Then how the party could claim for 100% exposure?
Y V Vishweshwar Rao
(Querist) 06 September 2010
Up to 10,000 exposures, 100 % replacement value is specified in the policy
