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…
ICICI Lombard General Insurance to pay Rs 36.98 Lakh as compensation
A 40-year-old man, who suffered 90 per cent permanent disability in a road mishap involving a rashly-driven car, has been awarded a compensation of Rs 36.98 lakhs by a Motor…
Oriental Insurance Company to pay Rs.1.5 crore to road accident victims
Oriental Insurance Company has been directed by a Motor Accident Claims Tribunal (MACT) to pay a compensation of about Rs.2 crore to the families of two victims who died in…
Insurance: Commission modified the order passed by district forum
The Chhattisgarh state consumer dispute redressal commission (CSCDRC) has modified the order passed by district forum directing LIC to pay Rs 1,40,000 to the nominee of an insured resident of…
For repairing of damaged truck ICICI Lombard General Insurance has paid Rs 5.13L
ICICI Lombard General Insurance   has been directed by The New Delhi District Consumer Disputes Redressal Forum here to pay Rs 5.13 lakh to a policy holder for rejecting his claim…