ICICI Lombard gets notice for GST of Rs. 273 crore
ICICI Lombard has received a show-cause notice from the Directorate General of GST Intelligence that has demanded Rs 273 crore Read more
Motor Insurance claims
New India targets 18% growth in premium income
G Srinivasan, Chairman and Managing Director, New India Assurance, stated that the company had achieved 19 % growth in premium Read more
IRDA proposes modification in depreciation rates in motor segment
Insurance Regulatory and Development Authority (IRDA) recently brought out a proposal to include paint material in the list of items which have depreciation rates. These rates apply for replacement of parts for partial loss claims in respect of vehicles and accessories and is covered by the General Regulation (9) of the erswhile India Motor Tariff. It is applicable for motor insurance claims under own damage (OD) category in motor insurance segment. Read more
Motor Insurance : Insurer asked to pay compensation for rejecting claim on stolen motorcycle
The Tiruchi District Consumer Disputes Redressal Forum has ordered the United India Insurance company to pay a city resident the insured amount of a motorcycle that was stolen and a compensation of Rs.2,500 for causing mental agony by rejecting his claim.
Read moreMotor Insurance Claims : Civil courts cannot refuse to record compromise: HC
A civil court cannot refuse to record a compromise reached between the litigants even if such settlement had been reached after the passing of a decree in favour of one of the parties, the Madras High Court Bench here has held.
Read more
CONTEMPLATING MOTOR INSURANCE FREEPLAY
An arm of the Insurance Regulatory and Development authority, the Tariff Advisory Committee is all set to dismantle the Motor Tariff regime from April 2005. The Tariff, which at present governs the rates that insurers charge for motor insurance premium, will be substituted by the file and use procedure. Read more