Online resource centre on insurance for magazine, books, training, articles and news on insurance
The family of a 29-year-old man, who died after a rashly- driven truck hit the car he was driving, has been awarded Rs 16.68 lakh as compensation by a motor accident claims tribunal (MACT) here. Read more
Enhancing the compensation amount claimed by a widow, the Motor Accident Claims Tribunal (MACT) here has held that claim can be entertained even if the proof for age or income of the victim is not available. Read more
A 31-year-old man, who suffered “100 per cent loss of functional ability” after he was hit a rashly-driven car, has been awarded Rs 11.30 lakh as compensation by a motor accident claims tribunal here. Read more
An insurance company cannot be held liable to compensate a road mishap victim or his family if the accident takes place because of his negligence, the Delhi High Court has ruled. Read more
The parents of a 19-year-old youth, killed in a road mishap involving a rashly-driven motor cycle, have been awarded a compensation of over Rs 7.46 lakh by a Motor Accident Claims Tribunal (MACT) here. Read more
After life insurers, it’s general insurers who are knocking at the finance minister’s door, calling him to save the industry from a worsening situation.
Finance minister P Chidambaram will meeting general insurers in New Delhi recently to understand the problems of the industry.
The Rs 60,000 crore general insurance industry is in crisis as all its vital financial parameters are shaky despite the sector showing a growth of 20-25 per cent in premium collection. Its massive losses (over Rs 10,000 crore in 2011-12) are a result of cut-throat competition post detariffing period, regulated third party motor premium and losses in health insurance portfolio. Read more
The company has also been directed to pay up for the cost of litigation, amounting Rs 1000. Late Bajrang Lal Sharma bought a insurance from ‘Child Welfare Fund Scheme’ which was promulgated by Ilam System Ltd (Kolkata) and the appellant United India Insurance Company (Bilaspur).
Bajrang Lal Sharma had also deposited the premium amount for the insurance.
Read moreA proposed amendment to the Motor Vehicles Act, 1988 could mean bad news for vehicle owners in case of road accidents. Read more
The UT District Consumer Disputes Redressal Forum has directed United India Insurance Company Limited to pay Saurav Bhatti, a resident of Sector 40, Rs 2.75 lakh as a value of salvage, Rs 50, 000 for mental harassment and agony, and Rs 10, 000 as cost of litigation. Read more
The family members of a traffic constable, who died after a motorcyle hit his two-wheeler, have been granted over Rs 37 lakh as compensation by a motor accident claims tribunal (MACT) here. Read more