1. #1
    Unregistered

    The insurance of my factory has been cancelled without any prior notification

    I had made a insurance for my factory in Reliance. I was suffering some losses so I did a delay in paying. I was in touch with the manager and asked him whether there is any problem if I delay it to some more months. Bank Manager said that the dues has already been paid. I thought that my brother must have paid this due as I was discussing about it with him about my financial crisis. My brother works in Florida and he had come to home in his vacation. At that time he was already back to his job. I forgot to make him a call. It has already passed 3 months to that event and I had made some profit. But I received a cancellation letter from the Main branch of Reliance. They are going to cancel the insurance if I do not submit 2 lacs rupees within 10 days. I enquired about it in the local branch and they said me the due was not paid for last 7 months. This was not my fault. The manager is not accepting his fault and saying that he did remember saying anything to me regarding this matter. Where shall I go now?

  2. #2
    chanchal Array
    Join Date
    May 2013
    Posts
    355

    Re: The insurance of my factory has been cancelled without any prior notification

    Quote Originally Posted by Unregistered View Post
    I had made a insurance for my factory in Reliance. I was suffering some losses so I did a delay in paying. I was in touch with the manager and asked him whether there is any problem if I delay it to some more months. Bank Manager said that the dues has already been paid. I thought that my brother must have paid this due as I was discussing about it with him about my financial crisis. My brother works in Florida and he had come to home in his vacation. At that time he was already back to his job. I forgot to make him a call. It has already passed 3 months to that event and I had made some profit. But I received a cancellation letter from the Main branch of Reliance. They are going to cancel the insurance if I do not submit 2 lacs rupees within 10 days. I enquired about it in the local branch and they said me the due was not paid for last 7 months. This was not my fault. The manager is not accepting his fault and saying that he did remember saying anything to me regarding this matter. Where shall I go now?
    Hello Aspirant,

    See it is a matter of the agreement between you & the insurance company.Since you are supposed to pay the premium for insurance in due time,you should do it otherwise you are liable for the consequences.The manager told you orally which won't stand when the matter becomes disputed.The purpose of signing the agreement paper is to avoid any dispute between any two.

    So it is always good to follow the terms & conditions of the agreement in order to keep your policy in force otherwise you are not going to be helped by any one.So pay the stipulated amount & keep your policy in force.

    Thanks.

  3. #3
    ealp Array
    Join Date
    Oct 2012
    Posts
    250

    Re: The insurance of my factory has been cancelled without any prior notification

    I have studied you statement you have no positive sides that can save you from this situation, it is sheer case of negigence you are the owner of factory
    you can not say firmly whether the premisum is paid to Reliance for insurance, it is very strange. You have exapressed listening from the Manage dues is paid
    you felt your insurance premium paid by your so called brother with whom you discussed about your crisis, may be your brother is the employee of florida co.
    You are a Factory owner you did not see the receipt of premium, date of premium,need not feel to ask your brother about the payment, very unfortunate, to
    run a Business, Factory you should be conscious without consciousness/profit a factory/firm /business can not run smoothly.

    Now you are to see what is viable whether to terminate contract Insurance with the Reliance company and to enter an insurance to the other Insurance company newly.You told no prior notice was served, here you are in fault position ,This is your interest and in contract there is no such agreement that
    Insurance company will serve Notice/intimation always to pay insurance premium.

    Having poor knowledge/unconsciousness /intelligence a business can not be run smoothly, be more active/conscious to run your factory nicely.

    Thank You,

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