Labourers not covered by insurance
The Supreme Court ruled last week that an insurance policy of a motor vehicle did not cover employees of a person who hired the vehicle to carry goods. “Someone who…
Concept of Accident in Insurance
Unplanned injurious or damaging event which interrupts the normal progress of an activity. An accident may be seen as resulting from a failure to identify a hazard or from some…
Provisions under Motor Vehicles Act regarding Transfer of Certificate of Insurance in India
The 1988 Act requires issue of a Certificate of Insurance by the insurers as proof of Third party insurance to satisfy the requirements of Chapter XI of the Act. The…
Insurance Company official sentenced to jail for Insurance Fraud
A sacked divisional manager of a state insurance firm and three others have been sentenced to varying jail terms for clearing bogus insurance claim and duping the firm of Rs…
Life Insurance Corporation of India pulled up for returning premium 3 yrs after receiving it
The LIC of India has been pulled up by the apex consumer commission for its failure to issue the policy to a woman in her life time despite receiving the…
Principles of indemnity in Insurance
The objective of the principle is to place the insured, as far as possible, in the same financial position after a loss, as that occupied by him, immediately before the…
The Bombay High Court wants IRDA to set up Ombudsman for policy-holders
The Bombay High Court suggested the Insurance Regulation and Development Authority (IRDA) to set up an ombudsman to address insurance-related grievances of consumers. The suggestion was made by a division bench…
A road mishap victim’s kin get Rs 7.14 lakh compensation from National Insurance
The kin of a woman, who died in a road accident during a pilgrimage, have been given damages of over Rs seven lakh by a Motor Accident Claims Tribunal which…
Concept of Utmost good faith in insurance
In insurance contracts, the legal doctrine of utmost good faith applies. The insured has the duty to disclose all material facts, which have a bearing on the insurance. A breach…
Oriental Insurance to pay Rs 11.63L to Liberty Cinema owner
Oriental Insurance Company Ltd has been asked by the Delhi State Consumer Commission to pay Rs 11.63 lakh to the owner of Liberty Cinema hall here as balance of reimbursement…