Principles of Fire Insurance - Utmost Good Faith, Insurable Interest, Indemnity, Subrogation and Contribution – Standard Fire and Special Perils Policy - Coverage - General exclusions – Add-on Covers and related exclusions - Special Clauses applicable to basic cover and Add-on covers. – Conditions and Warranties - Various Fire Warranties – Situations leading to Non-Standard Claims settlements and Ex-gratia settlement and their features
Procedural Aspects – Preparation of Claim Notes - Office procedures relating to claims. Claim Forms- Appointment of Surveyors. Rights – Duties - Duty of the Insured - Onus of proof — Duty of the Insurers after a fire claim - Claims Under Special Policies – Reinstatement Value Policies Local Authority Clause—Declaration Policy - Floating Policy—Impact of ‗Omission to Insure Additions, etc.‘ Clause- types of Losses - Meaning of Indemnity- Extent of indemnity & associated limitations – Meaning of Value and Depreciation – Reinstatement Value, Market Value, Depreciated Value and Book Value in Fire Insurance.
Issues Affecting Claim Amounts - Value of Salvage - underinsurance/pro-rata condition of average – Effects of Contribution - Claims under Concurrent & Non-concurrent Policies. Salvage disposal Procedures - Arbitration Procedures. Process of SURVEY & LOSS ASSESSMENT- Preliminary Survey Report – Final Survey Report— Loss minimization suggestions by the Surveyors— Legal Aspects of FIRE Insurance - Case Laws Related To Fire Material Damage - Doctrine of Proximate cause - Insured Perils/ Excluded Perils/ Extended Perils (add-on covers)- Modifications in ‗excluded perils‘ wordings under the Fire policy- Direct & Indirect Losses – ―Without Prejudice‖ Waiver & Estoppel—Rules of Construction of policy Assignment of Claim Proceeds— Payment by mistake – Frauds in Fire insurance & Fraudulent claims – Case Studies on Complicated claims –Worked out sums for simple & complicated Fire Claims and related question solving – Various Redressal Forums Available in Relation to Fire Insurance Policies – Protection of the Policy Holders‘ & Other Stake Holders‘ Interest.
