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A contract of Insurance comes into being when a person seeking insurance protection enters into a contract with the insurer to compensate him against loss of property by or incidental to fire and or lightening, explosion, etc. This is firstly a contract and hence as is governed by the general law of contract. still, it has certain special features as insurance deals, similar as utmost faith, insurable interest, reprisal, subrogation and donation,etc. these principles are usual in all insurance contracts and are governed by special principles of law.
FIRE INSURANCE
According toS. 2( 6A)," fire insurance business" means the business of effecting, else than apropos to some other class of insurance business, contracts of insurance against loss by or incidental to fire or other circumstance, customarily included among the pitfalls ensured against in fire insurance business.
According to Halsbury, it's a contract of insurance by which the insurer agrees for consideration to compensate the assured up to a certain extent and subject to certain terms and conditions against loss or damage by fire, which may be to the property of the assured during a specific period.
therefore, fire insurance is a contract whereby the person, seeking insurance protection, enters into a contract with the insurer to compensate him against loss of property by or incidental to fire or lightning, explosion etc. This policy is designed to ensure one's property and other particulars from loss being due to complete or partial damage by fire.
In its stern sense, a fire insurance contract is one
1. Whose principle object is insurance against loss or damage cause by fire.
2. The extent of insurer's liability being limited by the sum assured and not inescapably by the extent of loss or damage sustained by the ensured and
3. The insurer having no interest in the safety or destruction of the insured property piecemeal from the liability accepted under the contract.
LAW GOVERNING FIRE INSURANCE
There's no statutory enactment governing fire insurance, as in the case of marine insurance which is regulated by the Indian Marine Insurance Act, 1963. the Indian Insurance Act, 1938 substantially dealt with regulation of insurance business as similar and not with any general or special principles of the law relating fire of other insurance contracts. So too the General Insurance Business( Nationalization) Act, 1872. in the absence of any legislative enactment on the subject, the courts in India have in dealing with the content of fire insurance have reckoned so far on judicial opinions of Courts and opinions of English justices.
★■ આજના જ્ઞાનસેતુ ના હોમલર્નિંગના ધોરણ 1 ના વિડીયો જોવા અહીં ક્લિક કરો Click here
★■ આજના જ્ઞાનસેતુ ના હોમલર્નિંગના ધોરણ 2 ના વિડીયો જોવા અહીં ક્લિક કરો Click here
★■ આજના જ્ઞાનસેતુ ના હોમલર્નિંગના ધોરણ 3 ના વિડીયો જોવા અહીં ક્લિક કરો Click here
★■ આજના જ્ઞાનસેતુ ના હોમલર્નિંગના ધોરણ 4 ના વિડીયો જોવા અહીં ક્લિક કરો Click here
★■ આજના જ્ઞાનસેતુ ના હોમલર્નિંગના ધોરણ 5 ના વિડીયો જોવા અહીં ક્લિક કરો Click here
★■ આજના જ્ઞાનસેતુ ના હોમલર્નિંગના ધોરણ 6 ના વિડીયો જોવા અહીં ક્લિક કરો Click here
★■ આજના જ્ઞાનસેતુ ના હોમલર્નિંગના ધોરણ 7 ના વિડીયો જોવા અહીં ક્લિક કરો Click here
★■ આજના જ્ઞાનસેતુ ના હોમલર્નિંગના ધોરણ 8 ના વિડીયો જોવા અહીં ક્લિક કરોClick here
★■ આજના જ્ઞાનસેતુ ના હોમલર્નિંગના ધોરણ 9 ના વિડીયો જોવા અહીં ક્લિક કરોClick here
★■ આજના જ્ઞાનસેતુ ના હોમલર્નિંગના ધોરણ 10 ના વિડીયો જોવા અહીં ક્લિક કરો Click hereThere's no statutory enactment governing fire insurance, as in the case of marine insurance which is regulated by the Indian Marine Insurance Act, 1963. the Indian Insurance Act, 1938 substantially dealt with regulation of insurance business as similar and not with any general or special principles of the law relating fire of other insurance contracts. So too the General Insurance Business( Nationalization) Act, 1872. in the absence of any legislative enactment on the subject, the courts in India have in dealing with the content of fire insurance have reckoned so far on judicial opinions of Courts and opinions of English justices.
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