sc ginning company ltd vs national insurance corporation of t ltd 2004 tzhccomd 33 5 may 2004

sc ginning company ltd vs national insurance corporation of t ltd 2004 tzhccomd 33 5 may 2004

The loss suffered by the plaintiff was covered by the insurance policy as an 'all risks' policy, including losses due to employee dishonesty if reported within 72 hours. The insurer's refusal to indemnify was unjustified, and the plaintiff is entitled to indemnity for the loss claimed.

Citation
sc ginning company ltd vs national insurance corporation of t ltd 2004 tzhccomd 33 5 may 2004
Parties
Plaintiff: S&C Ginning Company Limited; 1st Defendant: National Insurance Corporation of Tanzania Limited; 2nd Defendant: Presidential Parastatal Sector Reform Commission
Court
TZHCCOMD
Jurisdiction
Tanzania
Judgment Date
5 May 2004
Procedural Posture
Commercial Case / Judgment
Outcome
Plaintiff's claim allowed
Legal Topics
Insurance Indemnity, All Risks Policy, Employee Dishonesty, Loss Adjuster Report, Policy Interpretation
Source Language
English
Insurance Law Commercial Law Insurance Indemnity All Risks Policy Employee Dishonesty Loss Adjuster Report Policy Interpretation

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Parties

S&C Ginning Company Limited

Plaintiff

National Insurance Corporation of Tanzania Limited

1st Defendant

Presidential Parastatal Sector Reform Commission

2nd Defendant

Procedural Posture

Commercial Case / Judgment

Legal Issues

  1. 1 Whether the loss of money by theft was covered by the insurance policy issued by the defendant
  2. 2 Whether there was collusion and/or connivance on the part of the plaintiff's employees
  3. 3 Whether the Assessor's Report is binding upon the 1st Defendant

Ratio Decidendi

The loss suffered by the plaintiff was covered by the insurance policy as an 'all risks' policy, including losses due to employee dishonesty if reported within 72 hours. The insurer's refusal to indemnify was unjustified, and the plaintiff is entitled to indemnity for the loss claimed.

Court Disposition

Plaintiff's claim allowed

Orders

  • 1st Defendant to indemnify the plaintiff for T.shs 134,908,850/=
  • Interest at 20% from date of loss to date of judgment