SC Elucidates Principles Of ‘Under Insurance’ And “Averaging Out” [Read Judgment] | Live Law

SC Elucidates Principles Of ‘Under Insurance’ And “Averaging Out” [Read Judgment] | Live Law: The insurance company must at the time of accepting the premium advice the policy holder properly, the court said. Elucidating the principles of “under-insurance” and “averaging out”, the Supreme Court, in IC Sharma vs The Oriental Insurance Co Ltd, has held that when a group of items is insured under one heading and only some …