Case Law Analysis
Jeweller's Block Insurance | Non-Payment of Sale Proceeds by Broker Not a Covered Peril Under Property Policy: West Bengal SCDC
The West Bengal State Consumer Commission ruled that failure by a broker to remit sale proceeds constitutes a commercial debt, not a physical loss covered under Jeweller's Block Insurance. This clarifies the boundary between insurance protection and commercial risk, impacting jewelers using third-party online platforms for sales.