Compulsory fire insurance of chs
S K SINHA
(Querist) 13 June 2014
This query is : Resolved
Madam/Dear Sir,
pl let me know the Section/Act under which it is mandatory to insure a CHS.
regds,
S K Sinha
ajay sethi
(Expert) 13 June 2014
read the bye laws . all societies have to take out insurance policy
S K SINHA
(Querist) 13 June 2014
Sir,
In Fire insurance several perils like Lightening,Aircraft damage,Impact damage, Leakage from automatic sprinkler etc. these are covered in any Standard Fire policy. There is one more peril called Riot Strike and Malacious Damage. Earlier it used to be bundled in Fire policy, but now it can be excluded from Fire policy. If it is excluded, you save on premium. wWether this exclusion is permissible. Thats why I wanted to read the relevant section.In an area not prone to Riot/strike etc this peril may not be required.
Thanks
ajay sethi
(Expert) 13 June 2014
in such a case if society wants coverage against riot strike etc society has to pay additional premium . it is for society to decide
Rajendra K Goyal
(Expert) 13 June 2014
Society and its bye laws has to be referred.
Raj Kumar Makkad
(Expert) 13 June 2014
It depends upon mutual agreement. One has to pay charge for the coverage of a particular risk.
S K SINHA
(Querist) 14 June 2014
BIG thanks to all experts.
Warm Regds,
SKSinha
ajay sethi
(Expert) 14 June 2014
thanks for your appreciation