Guide to Fire Policy - Non Payable Claims | GetMORE from Mallapuram Webinar

Описание: "#GetMORE from Mallapuram", is a Bi-Monthly Webinar Series intended to provide "Clarity for Confidence" on the Insurance related issues. For more information please visit: https://mallapuram.com/

Declarations:
• We DO NOT represent any Insurance Company
• We will be discussing on issues related to Insurance Only
• We are NOT intended to Criticize any specific Person or Organization
• Opinions discussed are completely personal and cannot be considered as a fact of evidence under any court of law

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TOPIC: MSME - FIRE INSURANCE NON PAYABLE CLAIMS


MSME - FIRE INSURANCE NON PAYABLE CLAIMS POLICY AGENDA
• Situation Analysis
• Discussion - Clarity for Confidence
• Review
• Action Points
MSME - FIRE INSURANCE NON PAYABLE CLAIMS POLICY SITUATION ANALYSIS
• Complete Distress
• Very angry on Insurance Company
• Very angry on Banker / Intermediary
• Not clear of Coverages, Warranties, Conditions, Exclusions & Claims Processing
DECLARATION OF WRONG OCCUPANCY in MSME - FIRE INSURANCE NON PAYABLE CLAIMS POLICY
• Commercial Place
• Owner Taken Insurance as OFFICE
• Given on Rent to PRINTING Business
• Fabrication Unit
• Owner Taken Insurance
• Given on Rent to Corrugated Box Manufacturing Unit
IMPACT
• CLAIM DENIED

Supression Of Complete Information In Msme - Fire Insurance Non Payable Claims Policy
SUPPRESSION OF FACTS In Msme - Fire Insurance Non Payable Claims Policy
• Fire Safety
• Type of Storage Materials
• Complete Details of Process (Heating / Drying)
• How Claim Incident Happened
• Mismatch of Facts and Details
• Explosion / Implosion (Boilers, Economizers, Steam, Centrifugal Forces

IMPACT
• CLAIM DENIED

P R O X I M A T E CAUSE NOT COVERED in In Msme - Fire Insurance Non Payable Claims Policy
• Normal cracking, settlement or bedding down of new structures
• Settlement or Movement of made-up ground
• Coastal or river erosion
• Defective design or workmanship or use of defective materials
• Demolition, construction, structural alterations or repair of any property, or ground works or excavations
• Non-Operational Business
• Known Defects
• Leakage from Tanks & Automatic Sprinklers (Repairs / Alterations / Removal / Extension Works)
• Pollution OR Contamination

CLAIM DENIED

REINSTATEMENT N O T COMPLETED

D A M A G E D ASSETS NOT INCLUDED

MSME - FIRE INSURANCE NON PAYABLE CLAIMS POLICY ACTION POINTS
• Check Existing Policy Benefits
• REVIEW with your Advisor
• Discuss with your SAFETY manager
• Get the required endorsements

NOTE: The statements mentioned are based on the feedback received. NOT Intended to a particular Person or a Particular Organisation
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