Growing industrialisation, the introduction of sophisticated devices and innumerable legislation have made life, safety, property and emotions more and more vulnerable which in turn has led to potential harassment. This factor, in fact, has compelled us to move more and more towards insurance-----, as today everything under the sun is insurable.
Policies covering the misfortunes of life, disability, theft, burglary, accidents etc are very popular; and is so insurance against untimely rain by organisers of outdoor exhibitions, calling off a championship in soccer, hockey, cricket and any other game involving a lot of inconvenience or loss of money to the insured. Test Matches can be covered against bad weather or any other eventuality.
To indemnify famous violinists or musical instrument players for loss due to injury to fingers is very common, football players like Brazilian Pele and British Beckhem, have insured their legs. Singers insure their voice; and surprisingly, an insurer in Sweden had assured that it will issue, "bad luck insurance policies."
'This policy would provide a comprehensive cover against any unlucky situation covering the home from the office to find if his child had cut to bits his valuable stamp collection or if he forgetfully sat on his spectacles and insures them". It seems now that a time is not very far off when marriages could be thought of being insured too.
There is a saying that every thing can be misread by Lloyds London if the price is adequate. Our society is changing very fast. Sophisticated and speedy communication have turned the world into a village. It has brought a change in socio-economic conditions, the liberation of women, a spurt of social welfare or protective legislation, and human relationships, especially marital, which have become rickety. Everyday, newspapers report about dowry-harassed wives tortured by in-laws, convictions for such harassment and so on.
The number of such legal suits filed only "to teach a lesson" to the husband/in-laws is on the increase. Likewise, there are innumerable women, who are being hurt, tortured and harassed. One way to mitigate the suffering of the innocent party is by way of damages.
The law of civil damages is rapidly expanding with the ever-rising complexities of human relationships, the sensitivities involved in various issues, and physical damages occurring from certain acts, omissions and behaviours, and so on.
Some time back in Karachi a Magistrate decided a suit in which the husband and in-laws were not only friends and jailed, but, the magistrates also ordered that out of the fine imposed on then, Rs 50,000 should be paid to the victim as compensation for maltreatment and harassment by her in-laws.
There are many cases of fraudulent marriages. In such cases both wives and husbands suffer, but in the majority of cases the wife is the main sufferer. Section 498-A of the Penal Code is one of the strongest and most dangerous weapons in the hands of the wife to drag the husband and the parents to the Police station, jail and the courts for shock, acute mental agony and damages; but unfortunately in most of the cases it could not be done because the legal procedure is so long drawn and cumbersome that a victim is unable to get justice or compensation. Many families have been ruined because of litigation.
On account of the above factors in India an insurance policy is evolved to cover marriages against breakdown - viz, emotional trauma, shock, social stigma, displacement maintenance, residence, custody of children.
RATES OF PREMIUM ARE DETERMINED ON THE FOLLOWING FACTORS: Age, education, joy, social and economic status of both the parties' residence in India or abroad, and other such circumstances.
Such policies are obtained either before marriage or at the time of marriage. The sum insured is also fixed in accordance with the monetary position of each party.
Here, we should not forget the risk of collusion with the parties pretending to have fallen out but since such risk is there in almost all the insurance policies, it should not deter us. Its safeguards are taken care of.
These kinds of insurance covers are very common in the developed countries and since our neighbour, India, has taken a lead in this class of insurance, the insurance companies of our country should also cover forward and sell such class of covers. It will not only alleviate wedlock agonies but also go a long way in making the marriages of our countrymen happy and prosperous.
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