3 replies on this article “insurance”

1. Ashal Jauhari says:

   September 10, 2013 at 10:02 am

   Dear Nitish, bank is not at all liable to insure the collateral. It’s the responsibility of the owner of the collateral to insurer it properly.

   Even in case of home loans, banks ask us to purchase adequate property insurance, even though property is mortgaged with bank.

   thanks

   Ashal.

   Reply
2. nitish bhandari says:

   September 7, 2013 at 1:50 pm

   dear ashal we had cash credit account in a bank. or limit what it is generally called. it was of 3.00 lakhs. we dealt in food items and used to supply them to the market. the manger assured that he will insured our goods as the bank has entered into a tie up with a insurance company and we no longer need to insure our goods. he didn’t insured and we suffered a huge loss. i wanted to know the act under which it is mandatory for banks to insure the colaterals. so i can pursue my case in court.

   Reply
3. Ashal Jauhari says:

   September 4, 2013 at 2:37 pm

   Dear Nitish, what’s the query? I’m unable to understand. Can you explain it?

   Thanks

   Ashal

   Reply

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