PAKISTAN PACKAGES (PVT.) LTD. versus ADAMJEE INSURANCE COMPANY LIMITED
About 130 months after the insurer had an insurance policy regarding the determination of damages to the insured's stock due to monsoon rains, monsoon rains caused severe damage to the city, This resulted in the loss of the factory stock of the insurer who filed the claim. The insurance company, which hired the surveyor to survey the damage to the insurance company, offered the insurance company only 10% of the first claim amount, which was unacceptable. Should the insurer pay 70% of the loss, the insurance company increased the amount of its offer to 20%, but the insurance insured did not accept it, neither the appellate authority was brought in, nor the insurance. In determining the extent of, or not affecting, the loss of a policy. Friendly Settlement; Since both parties have no option but to lack their own material to establish their own claims, the insured / appellant party, under the law, has to act in accordance with the consequences of the Ombudsman. It was at liberty to seek resolution on another court forum.
Related judgments — Securities and Exchange Commission of Pakistan, 2014
