united india insurance company wikipedia

The respondent laid claims for damages caused during the first period for a sum of Rs 4,99,453.23 and for the second period for Rs 5000 which amount to a total of Rs 5,04,453.23 with interest from the date of the claim. During the said period, admittedly, due to the employees' strike the leather in process was damaged due to the spoilage. First policy covered the period from 31-3-1986 to 31-3-1987 and the second policy covered the period from 1-4-1987 to 31-3-1988. Admittedly, the respondent was holding two policies. These appeals arise from the orders dated 12-1-1995 of the National Consumer Redressal Commission (“the Commission”, for short) made in Original Petitions Nos.

Both the appeals are heard and disposed of together since claims arising out of them arise out of the same cause of action.ģ. We have heard learned counsel on both sides.Ģ. The Insurer shall comply with the award within 30 days of the receipt of award and intimate the compliance of the same to the Ombudsman.1.§ Pass an award within 3 months of receiving all the requirements from the complainant and which will be binding on the insurance company If a settlement by recommendation does not work, the Ombudsman will:.If you accept this as a full and final settlement, the Ombudsman will inform the company which should comply with the terms in 15 days.

Arrive at a fair recommendation based on the facts of the dispute.I) Any other matter resulting from the violation of provisions of the Insurance Act, 1938 or the regulations, circulars, guidelines or instructions issued by the IRDAI from time to time or the terms and conditions of the policy contract, in so far as they relate to issues mentioned at clauses (a) to (f) H) Non issuance of insurance policy after receipt of premium in life insurance and general insurance including health insurance and G) Issuance of life insurance policy, general insurance policy including health insurance policy which is not in conformity with the proposal form submitted by the proposer. A) Delay in settlement of claims, beyond the time specified in the regulations, framed under the IRDAI Act, 1999.ī) Any partial or total repudiation of claims by the Life insurer, General insurer or the Health insurer.Ĭ) Any dispute about premium paid or payable in terms of insurance policyĭ) Misrepresentation of policy terms and conditions at any time in the policy document or policy contract.Į) Legal construction of insurance policies in so far as the dispute relates to claim.į) Policy servicing related grievances against insurers and their agents and intermediaries.

United india insurance company wikipedia