https://www.taxtmi.com/caselaws?id=313498 A fresh insurance contract, not a renewal on identical terms, was issued for a different location and it expressly excluded STFI risk. The refunded premium for STFI cover was credited to the insured, and under Section 64VB of the Insurance Act, 1938, risk arises only on receipt of premium. The contract had to be enforced as written, so the Court would not import a cover that was expressly excluded. As the insured received the policy copy and accepted the refund without protest, knowledge of the exclusion was attributable. The insurer was therefore not liable for the STFI-covered loss. en-us Tue, 28 Jan 2020 00:00:00 +0530 Tue, 14 Apr 2026 15:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313498 A fresh insurance contract, not a renewal on identical terms, was issued for a different location and it expressly excluded STFI risk. The refunded premium for STFI cover was credited to the insured, and under Section 64VB of the Insurance Act, 1938, risk arises only on receipt of premium. The contract had to be enforced as written, so the Court would not import a cover that was expressly excluded. As the insured received the policy copy and accepted the refund without protest, knowledge of the exclusion was attributable. The insurer was therefore not liable for the STFI-covered loss. Case-Laws Indian Laws Tue, 28 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313498