CERS Makes Oriental Insurance Reimburse mediclaim worth Rs. 1.17 Lakh

The Consumer Disputes Redressal Forum, Ahmedabad (Additional), has directed Oriental Insurance Company Ltd. to pay its valid health insurance policyholder Chirag Sanghavi Rs. 1.17 lakh, part of it with interest, for the expenses incurred by him on his medical treatment. The amount includes compensation of Rs. 10,000 for his mental agony and Rs. 2,000 towards the litigation cost. Consumer Education & Research Society (CERS), a co-litigant with Sanghavi, was also awarded Rs. 2,000 towards cost. Read more

Insurance News: Delhi Police awarded Rs 22,000 compensation

The office of the Commissioner and the Deputy Commissioner of Delhi Police have been awarded a compensation of over Rs 22,000 by a Motor Accident Claims Tribunal (MACT) here in a road mishap in which a PCR van was rammed from behind and suffered damage. MACT Presiding Officer Nirja Bhatia directed New India Assurance Company Limited, with which the offending vehicle was insured, to pay the amount to the official authorities. Read more

26/7 deluge victim wins 4 lakh insurance payout

Seven years after the July 26 deluge, a consumer forum recently ordered the New India Insurance Company Ltd to pay a Juhu resident Rs 3.84 lakh he had claimed after his car was severely damaged due to the flood waters. The company will also pay the complainant A B Gupta Rs 10,000 as costs of the complaint. Read more

Consumer Forum asks insurance firm to pay Rs 49 lakh to engineer

Observing that New India Assurance had arbitrarily repudiated the insurance claim payable under a policy and rendered deficiency in service, the Maharashtra Consumer Commission has asked the firm to pay Rs 49 lakh to a former Air India flight engineer by August 25. Read more

Discounts on own-damage motor policies lowered down by 20%

Non-life insurers have lowered discounts on commercial and private own-damage motor policy by as much as 20%, as third-party motor risk moves to “declined pool”. Insurance regulator Irda recently formed the declined pool, replacing the third-party motor pool, which will have lower industry contribution for insurance cover at about Rs 1,200 crore against the nearly Rs 6,000 crore earlier.

Read more