District forum asks insurance company to pay Rs5 lakh
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
National Insurance Company
Mediclaim Insurance plans to cost 30% more
Get ready to pay more for your health insurance. All four public sector insurers — United India Insurance, Oriental Insurance, New India Assurance and National Insurance Company — have got the green signal from the Insurance Regulatory and Development Authority (IRDA) to hike premiums on retail health plans. The state-owned insurers are in the process of filing redesigned products in terms of price and features. Read more
National Insurance sees slowdown in premium growth
National Insurance Company Ltd (NIC) expects a slowdown in growth rate this fiscal. The public sector non-life insurer, which had grown by 25 per cent in 2011-12, is expecting to grow by 20 per cent in 2012-13. Read more
Labourers not covered by insurance
The Supreme Court ruled last week that an insurance policy of a motor vehicle did not cover employees of a person who hired the vehicle to carry goods. “Someone who travels, not being an authorised agent in place of the owner of goods, and claims to be an employee of the owner of goods, cannot be covered by the statutory policy,†the court stated in the judgment, Sanjeev Kumar vs National Insurance Company. The dispute arose when a person hired a vehicle to carry his goods and took along with him two employees. All of them died in a road accident. The Himachal Pradesh High Court, modifying the order of the accident claims tribunal, asked the insurance company to pay compensation and allowed it to recover from the owner of the vehicle. Therefore, the owner appealed to the Supreme Court. The appeal was dismissed. Read more
National Insurance Company to pay Rs 25.17 lakh as compensation
The Motor Accident Claims Tribunal (MACT) has granted a compensation of Rs 25.17 lakh to the parents of a youth, who was killed in a road accident in 2010.
The MACT asked National Insurance Company Limited, with which the bus was insured, to pay the money to the parents of Akshay Soloman, who had died after it hit him from behind. “I award Rs 25.17 lakh as compensation with interest at the rate of 7.5 per cent per annum including interim award, if any from the date of filing the petition (December 13, 2010) …, in favour of the petitioner and against the respondents on account of their liability being joint and several. Read more
Rs 23 lakh compensation awarded to parents of accident victim
Family members of a 20-year-old girl, who was killed in a road accident, have been awarded a compensation of 118 per cent amount than the original claim, by the Motor Accident Claims Tribunal here.
Read moreInsurance company fails to properly assess loss, told to pay up
National Insurance Company Limited, Sector 17-D, Chandigarh, has been directed to pay Rs 1,24,951, following a consumer complaint over the amount accessed by the company as insurance claim in lieu of vehicle damages.
Read moreNational Insurance Company announces vacancy for recruitment of Administrative Officers
National Insurance Company has announced 345 vacancies for Administrative Officers Scale 1
Read moreNational Insurance Co last date for applying for Administrative Officers exam – 17th March
The last date for filling up the online form for applying for the post of Administrative Officer in National Insurance Co. is 17th march. National Insurance had recently annouced vacancy for the post of administrative officers.
Read moreSC : Include future loss of income in accident payout
If a person suffers permanent disability in an accident caused by a vehicle, then the compensation due to him should Read more