IRDAI Stays Order on Genetic Disorder Exclusions
1. Reference is invited to Authority’s Circular IRDAI/HLT/REG/CIR/046/03/2018 dated 19th March, 2018 issued in pursuance to the judgement of the Hon’ble High Court of Delhi (RFA 610/2016 & CM Nos.…
Supreme Court Mandates PUC Certificate for Insurance Renewal
1. Please refer to the Order dated 10th August, 2017 passed by the Hon'ble Supreme Court of India in Writ Petition (Civil) No.13029 of 1985 in M.C.Mehta Vs. Union of…
IRDAI Extends Relief for Kerala and Karnataka Flood Victims
General and Health Insurers are advised to grant 60 days grace period in respect of all health insurance policies due for renewal up to 30th September, 2018 in the State…
IRDAI Regulation Compliance: Disclosure of Information
A few instances have come to the notice of the Authority that some criminal/judicial proceedings are initiated/filed against some brokers or the KMP's by Government Agencies. It is also observed…
Insurance Surveyor Appointment Doesn’t Guarantee Claim
If the insurance claim is made late, it can be rejected even if the insurance company had appointed a surveyor to assess the damage, according to the Supreme Court. The…
Supreme Court Upholds “Pay and Recover” Rule in Motor Accident Claims
The Supreme Court reiterated the principle of "pay and recover" in road accident cases. According to this rule, if the driver of the offending vehicle has no license or there…
No Arbitration If Insurer Rejects Claim
The dispute arose when there was a serious accident during the construction of a bridge over the Chambal River. The insurer repudiated the claim of the contracting company based on…
Supreme Court: Insurers Can’t Blame Victim in Road Accidents
The Supreme Court has underlined that an insurance company cannot raise the issue of negligence by a road accident victim when Section 163A of the Motor Vehicles Act is invoked.…
Steel Almirah Not Enough: Jeweler Loses Insurance Claim
Jewellers who keep their precious wares in steel almirahs will lose their insurance cover if the items are not kept in a safe with a complex locking system. If there…
Protect Yourself with Universal Sompo Health Insurance
Health Insurance policy of Universal Sompo is offered to individuals and/or his family. The policy is designed to pay the Insured person(s) the hospitalization expenses as well as domiciliary hospitalization…