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More than four decades after a truck ran over his legs and 30 years after he began his battle for compensation, a deaf and mute resident of Thane district has finally got justice. The Motor Accident Claims Tribunal at Kalyan has upheld his claim against the driver and an insurance company, awarding him cash compensation of Rs 1.69 lakh plus interest. Read more
Insurance is a business of Probability, spreading of losses when the probable event takes place. Spreading the losses takes place in the agreed business participation by way of Insurance & Re-insurance contracts. Read more
District consumer forum asked Golden Trust Financial Services to pay the sum assured of Rs5,00,000 to one Sumi Tank with interest at the rate of 6 per cent for deficiency in service. Read more
Natural disasters cost insurers USD 65 billion last year, with the United States accounting for nine-tenths of the bill and Superstorm Sandy prompting payouts of USD 25 billion, a leading insurance company said. Read more
Ruling that lunch break will be included in business hours unless specifically stated otherwise in the policy, the National Consumer Disputes Redressal Commission (NCDRC) has directed an insurance company to pay Rs 10.5 lakh to a Bhayander-based jeweller. Read more
United India Insurance Co Ltd has been directed by the apex consumer commission to pay Rs 5.1 lakh to the son of a policy holder who had died of a poisonous insect bite while working in the fields. The National Consumer Disputes Redressal Commission gave the order dismissing the insurance firm’s plea against the Rajasthan State Consumer Commission’s direction to it to pay the policy holder’s son the assured amount of Rs five lakh and Rs 10,000 as litigation cost. Read more
When an insurance company accepts without demur personal cheques of its agents, after the agent had collected premium from the insured favouring himself in the first instance, it cannot subsequently wriggle out of its commitment to the insured.
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