Basic fire policy doesn't cover self-ignition
Business Standard|April 29, 2024
Sanjay Foods, which had its office in Jalgaon, manufactured oil and oil cakes using cotton seeds purchased from ginning and pressing units.

It obtained a Standard Fire and Special Perils Policy from United India Insurance, valid from March 6, 2011, to March 5, 2012. The policy covered the building for ₹95 lakh; plant, machinery, and accessories for 40 lakh; and stock for 2 crore.

During the policy's tenure, on June 4, 2011, a sudden fire broke out in the factory. It was controlled with the help of the fire brigade.

A first information report (FIR) was immediately lodged with Maharashtra the Industrial Development Corporation (MIDC) Police Station, and the insurer was also informed. A claim was lodged stating that the total loss was 37,28,168, out of which the value of the salvage was 7,71,345, resulting in a net loss of ₹29,56,823.

هذه القصة مأخوذة من طبعة April 29, 2024 من Business Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة April 29, 2024 من Business Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.

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