Stolen vehicle: Insurance firm declines to pay depreciated value
According to details, the insurer had insured his long vehicle with the insurance company through a leading company against Rs35,60,000/- on annual premium of Rs1,06,800/-. The insurer approached the insurance company when owner of the vehicle failed to contact driver of the vehicle, followed by police report.
The owner of the vehicle claimed for payment of insured amount as the incident of missing of the vehicle was claimed to have been covered under the policy if insurance inked between the parties.
The insurance company flatly denied the claim, which led to the change of stance of the owner of the vehicle urging for payment of the depreciated value of his stolen vehicle.
The insurance company refused to entertain it on the ground that the vehicle had not been stolen from him; rather he had himself handed it over to his driver who misappropriated the vehicle, which was not covered under the policy. Also, conduct of the owner of the vehicle suggested that the vehicle was concealed somewhere with his consent and the claim was based on a mere police report. There was no proper FIR so that the matter could have been properly investigated for retrieval if the vehicle.
The company also doubted the claim on the ground that the owner had not made any effort for retrieval of the vehicle and preferred to lodge a claim. The insurance company also objected to the claim application filed three months after the date of disappearance of the vehicle.
The owner had also not taken any action against the driver, which was against normal human conduct. He had also not having the address of the driver, as he had not obtained CNIC at the time of employing him for the vehicle.
He had no idea about the name of the father of the driver. His sole response was that he had trust over the driver, which was breached. The insurance company declined to entertain the insurance claim.
Copyright Business Recorder, 2025
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
29 minutes ago
- Express Tribune
Heavy rains hit daily wage earners hard
Heavy rains have severely impacted daily wage earners across the city, leaving thousands of labourers without work. With businesses disrupted and markets flooded, workers who depend on daily earnings to meet household expenses returned home empty-handed on Tuesday. A report, compiled by The Express Tribune, highlighted the plight of the labour class amid the rain-induced disruptions. Patron-in-Chief of All Karachi Traders Alliance, Jamal Sehti, said business activities were badly affected in major markets including Liaquatabad, M.A. Jinnah Road, Saddar, Karimabad, Landhi, Korangi and the Old City area. He added, while shops initially opened, waterlogging on main roads forced shopkeepers to close early as customers stayed away. "Daily wage earners suffer the most in such conditions. Many labourers could not find work, and if rains continue, their financial woes will worsen," Sehti said, stressing the need for a support mechanism to help them during such crises. Residents also voiced their concerns. Sehar Tariq from Punjab Colony, who sells household items, said, she could not work due to the rain and had to borrow money from neighbours to arrange meals for her family. "We earn between Rs500 to Rs1,500 a day. Missing even a single day's work pushes us into debt," she lamented. Delivery riders were similarly affected. A food delivery worker — Adnan Ahmed — said, restaurants remained closed as there were no customers due to flooded streets as a result food delivery orders were drastically reduced, leaving them without income. Haji Tasleem, who manages a group of construction workers, explained that most labourers in the city, hailing from the other parts of the country, are associated with the construction sector.
Express Tribune
an hour ago
- Express Tribune
No direct uplift funds for civic agencies
In a major shift from previous years, the Punjab government has not allocated direct development funds to public service institutions, development authorities, and agencies in the newly announced fiscal year 2025-26 budget. Traditionally, before the annual provincial budget, all such bodies were invited to submit development schemes for funding. However, this practice was discontinued this year. A lump sum amount of Rs1,240 billion has been earmarked for development across the province. The funds will primarily be spent on government-prioritised projects, rather than proposals submitted by departments and local bodies. Officials from Rawalpindi's various development institutions and corporations confirmed that no development schemes or project proposals were requested from them for the current financial year. The departments excluded from this year's planning process include district councils, municipal corporations, WASA, PHA, municipal and town committees, as well as departments of social welfare, livestock, poultry research, agriculture, and forestry. Sources indicate that after budget approval, the government may begin consultations in July to allocate around 50-60% of available funds to institution-led schemes, but only those approved by the government will receive funding.
Express Tribune
2 hours ago
- Express Tribune
Teenage girl found strangled to death
Unidentified persons entered a house and strangled a 16-year-old girl to death. The police took possession of the body and shifted it to a hospital. A citizen, Allah Rakha, filed a complaint stating that his brother Ghulam Mustafa had left the house for work and his niece, 16-year-old Basheeran Bibi, was alone in the house when unidentified persons entered the house, strangled her to death and fled. When his brother and he reached home, his niece was lying dead on the bed with scratches on her neck. The police have registered a case under section 302 of the PPC and started investigation to apprehend the accused. Meanwhile, a case has been registered against two police officers and several other persons for kidnapping two citizens and demanding ransom from their families. According to the complaint, ASI Imtiaz Kamoka and Constable Maisam Taimar posted at Kotwali Police Station raided a house along with other individuals in the City Chiniot Police Station area. They abducted Rizwan and Zafar Abbas, who were running an online business, by threatening their family members, tying up the victims, and taking them away. The police officials demanded a ransom of Rs9 million from the families of the victims. Later, a deal was settled with Rizwan's wife, Mehreen, for Rs500,000 in cash and gold jewelry. Upon registration of the compliant by Rizwan's wife, Chiniot police took action and set up checkpoints to arrest the police officials involved in kidnapping. When the suspects encountered the checkpoint on Chiniot Road, they opened fire. In the exchange of fire, two men named Mazhar and Abdul Rehman were injured and taken into custody. Chiniot police registered a case on the complaint of Rizwan's wife Mehreen against ASI Imtiaz Kamoka, Constable Maisam Taimar, Abdullah, Sohail, and Zain under five sections of the law, including kidnapping. A search operation has been launched to trace the suspects.
