Property can only be insured locally

The National Commission noted that claim was for loss of goods as well as for loss of profits. The local policy covered claim for loss of goods only, while the global policy covered loss of profits

Levi Strauss (India), a subsidiary of Levi Strauss (USA), which is in the business of manufacturing apparels and jeans, had appointed Safexpress for warehousing, distribution, and logistics management.

Levis USA had taken two Global All Risks Property Policies from Allianz Global. Levi’s India had additionally obtained a Standard Fire & Special Perils Policy from United India Insurance because the General Insurance Business (Nationalisation) Act prohibits property in India to be insured with a foreign insurer without prior permission of the central government.

When a fire broke out in its Bengaluru warehouse due to electric short circuit, the company lodged a claim with