Answer to Question #114655 in Other for Maryam

Question #114655
Mr. Salim is the owner of a factory that recycles electronic waste, took fire insurance for his factory that worth RO 2.5 million. In the factory, several plasma cutters were used to break the electronic goods, which carries high fire risk. During signing of insurance contract, Mr. Salim failed to disclose the usage of plasma cutters. In addition, to reduce the burden of insurance premium, Khalid decided to cover his factory for only RO 1.5 million with the assumption that fire may not destroy the whole property. Hence, “average clause” was included to the fire insurance policy by the insurance company. One day, a major fire was reported in the factory. In the investigation, it was found that the fire was caused by the plasma cutters.
Instructions
a) Do you think Saeed is eligible for Compensation? Justify. -All fire insurance policies contain “Average Clause” to discourage under insurance. Explain in
detail. c) Distinguish the right of the Insurer and Insured to cancel a fire insurance policy.
1
Expert's answer
2020-05-07T07:54:00-0400
Dear Maryam , your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS