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Claim can't be denied for an old machine

During the tenure of the policy, an abnormal noise suddenly started emanating from the spindle in the tool box

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Jehangir B Gai
Abrol Engineering had taken a policy of Rs 40 lakh from New India Assurance to cover a CNC machine made by DMG Deckel Maho Gildemister. During the tenure of the policy, an abnormal noise suddenly started emanating from the spindle in the tool box. The manufacturer's service engineer, as well as the insurer, were intimated.

During a joint inspection by the surveyor and the service engineer, it was found that the spindle needed replacement as it was irreparable in India. The cost was quoted at Rs 10,87,717. The insured paid this amount and then claimed it from the insurer. The claim
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First Published: Jan 31 2019 | 1:45 AM IST

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