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In: Operations Management

A ship was captured on the high seas, the owners hearing of her capture claimed for...

A ship was captured on the high seas, the owners hearing of her capture claimed for insurance, the insurers honoured the claim however, two weeks later the ship was returned and the insurers asked for the money paid out to be returned , advise the parties

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Expert Solution

This is a case of confusion. Either of the party can be at fault.

The insurance companies must conduct proper investigations for any case. Before making the payment i.e. honouring the claims the companies should make it double sure that the claiming party is totally genuine while making the claim.

In this case, if the claiming party has made the claim without any intentions of cheating the firm then the company will not be liable to pay the insurance firm in any case. It is because the insurer failed to perform its obligation of cross verifying the capture of the ship.

Only in a situation where the claiming party has made the claim with an intent to cheat the insurer, then the insurance company can claim the amount paid to the claiming party. But this has to be proved by the insurance company.

Please up vote if it helped. Thanks.

keosha answered 2 years ago
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