https://www.taxtmi.com/caselaws?id=197543 An insurance policy excess clause referring to "each and every loss" had to be applied to each distinct act of embezzlement, because the contract could not be rewritten and distinct losses could not be aggregated unless the policy expressly allowed it. Reading the excess clause with the schedule, the Court held that the insured's contribution applied separately to every loss under the relevant contingency, and the omission of the phrase in one part did not justify treating successive embezzlements as a single composite claim. The arbitrator's award, which aggregated the losses and applied the excess only once, was contrary to the policy and disclosed an error on the face of the award; it was set aside. en-us Thu, 15 Apr 2010 00:00:00 +0530 Tue, 09 Jan 2018 17:17:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197543 An insurance policy excess clause referring to "each and every loss" had to be applied to each distinct act of embezzlement, because the contract could not be rewritten and distinct losses could not be aggregated unless the policy expressly allowed it. Reading the excess clause with the schedule, the Court held that the insured's contribution applied separately to every loss under the relevant contingency, and the omission of the phrase in one part did not justify treating successive embezzlements as a single composite claim. The arbitrator's award, which aggregated the losses and applied the excess only once, was contrary to the policy and disclosed an error on the face of the award; it was set aside. Case-Laws Indian Laws Thu, 15 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197543