Assessing Loss to a Property and Claims Adjustment Process
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Case Code: INS007 Case Length: 04 Pages Period: 2003 Pub Date: 2003 Teaching Note: Available |
Price: Rs.100 Organization: Varied Industry: Insurance Countries: India Themes: - |
Abstract Case Intro
"I need not worry," said Narayan Shethy confidently to Venkat, the owner of the shop adjacent to his erstwhile electronics showroom. "But a lot of your property was gutted in the fire. It would be difficult for anyone, let alone you, to recover from such a loss," replied Venkat.
"I had insured the property, so I can claim compensation from the insurance company for the loss I have incurred," said Shethy.
Shethy Electronics Showroom belonged to Narayan Shethy. It was one of the leading electronics showrooms in the city. The showroom stocked almost all brands and the latest models in electronic home appliances. Any new innovation or product would enter the city through Shethy's showroom only. The showroom was a shopper's paradise. A whole lot of models were available at reasonable prices. Shethy had many loyal customers who purchased their electronic goods from his shop alone. Shethy had inherited the showroom from his father, Dev Shethy. The showroom was quite small when he inherited it. Through his efforts Shethy developed the showroom and expanded the business...
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