Mr. Chowdhury lives in an apartment located in Gulhan, Dhaka. He is a Lawyer by his profession. He purchased an insurance policy for his car from XYZ insurance company limited. Recently, Mr. Chowdhury has got accident and his car damaged seriously. Insurance company has investigated the incident and found that Mr. Chowdhury got accident twice earlier but he failed to mention that to the company. Mr. Chowdhury also drove the car recklessly and thus got accident. Now, Mr. Chowdhury has claimed the amount of loss from the insurance company. But insurance company has refused to pay the claim.

a. What are the special elements of an insurance contract? Describe with suitable example.

b) What are the duties of a policyholder that should be followed by Mr. Chowdhury?

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a An insurance contract is a special type of contract which contains some specific elements The spec... View the full answer