No Result
View All Result
  • Login
Saturday, June 25, 2022
Afternoon Voice
SUBSCRIBE
  • Home
  • Top News
  • City News
  • Nation
  • World
  • Business
  • Entertainment
    • Bollywood
    • Hollywood
  • Sports
    • Cricket
    • Hockey
    • Tennis
    • Football
    • Badminton
  • Editorial
  • Opinion
    • Column
    • Diary
    • Letters
  • Epaper
  • More
    • Editor’s Pick
    • Featured
    • Lifestyle
    • Different Strokes
    • Multimedia
    • Sci-Tech
    • Politics
No Result
View All Result
  • Home
  • Top News
  • City News
  • Nation
  • World
  • Business
  • Entertainment
    • Bollywood
    • Hollywood
  • Sports
    • Cricket
    • Hockey
    • Tennis
    • Football
    • Badminton
  • Editorial
  • Opinion
    • Column
    • Diary
    • Letters
  • Epaper
  • More
    • Editor’s Pick
    • Featured
    • Lifestyle
    • Different Strokes
    • Multimedia
    • Sci-Tech
    • Politics
No Result
View All Result
Afternoon Voice
No Result
View All Result
  • Home
  • Top News
  • City News
  • Nation
  • World
  • Business
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Epaper
  • More

Home > City News > Forum orders ICICI Lombard to pay Rs. 5 lakh compensation

Forum orders ICICI Lombard to pay Rs. 5 lakh compensation

afternoonvoice@gmail.com' by Afternoon Voice
February 25, 2014
in City News
A A
0

The District Consumer Disputes Redressal Forum here has pulled up ICICI Lombard Motor Insurance for indulging in “unfair trade practices” and asked it to pay a compensation of Rs 5 lakh to a complainant.

In their order, Forum president Umesh Jhawalikar and member ND Kadam observed that the bank’s insurance wing was deficient in its services as it totally rejected the insurance claim when it could have sanctioned a partial amount.

The claimant Gopalakrishnan Nair told the Forum that he had a valid insurance with the company for the period November 9, 2006 to November 8, 2007 for a sum of Rs 3,88,800 for his car Opel Corsa.

The complainant informed the Forum that his car met with an accident at Turbhe on December 8, 2006 and he had promptly registered an offence with the APMC police station and a ‘panchnama’ of the accident site was also carried out.

The vehicle was later taken to the Fort Point automobiles for repairs. After the survey, a claim for the accident was lodged with the insurer within the stipulated period, he told the Forum.

However, the insurer refused to accept his claim and settle it as per the guidelines of IRDA and within the stipulated period as a result of which he had to make use of another vehicle for his travel and pay charges to the garage as the car was still parked in the Fort Point premises.

Thus Nair lodged a claim of Rs 5,62,350 which included the insurance claim amount, charges for parking his car at the garage which was Rs 35,550 and also expenses for usage of other vehicle for commuting and other expenses which totaled upto Rs 1,34,000.

The respondent insurance company, while arguing the case, informed the Forum that as per experts’ opinion of the company after survey of the damaged vehicle, there was no necessity to change the bodyshell of the car.

However, the claimant had carried out an independent survey in which the expert had opined otherwise. This was the matter of dispute which delayed the process, the insurance company informed the Forum in its submission.

As per IRDA guidelines, the bank should have made 75 percent of the eligible amount to the claimant within the stipulated time which it did not do as a result of which the insured had to park his car in the garage for which he incurred additional expenses on parking and also had to make use of other means of transport for commuting, pending repair.

The complainant had promptly taken all steps including complaint to the APMC police station, getting the panchnama done, getting inspection done by an expert, and also filed the claim within the stipulated period along with all relevant documents, as per IRDA guidelines and the Indian Motor Tariff, the Forum observed.

The Forum further said it was necessary that the insurance company should have sanctioned the claim within the stipulated time. Likewise, it was justified that the insurance company ought to have sanctioned up to 75% of the insured amount by taking into consideration prevailing circumstances and the documents.

The insurance company, however rejected the claim on two counts. One there was no need to change the body shell and another the original repair bill was not presented by the claimant.

As the respondent was the service provider for the complainant, it was duty bound to sanction his claim up to the eligible sum which was justified. It could have sanctioned the claim even by deducting the charges of the body shell within the stipulated time, which it failed do.

Hence, it is held that it had indulged in unfair trade practices, the Forum said.

afternoonvoice@gmail.com'

Afternoon Voice

Recommended For You

uddhav thackeray, uddhav, thackeray, resignation, cm, chief minister, maharashtra, chief minister of maharashtra, hindutva, sena, shiv sena, shiv, bjp
City News

I have left CM’s bungalow, not my determination, says Uddhav amid rebellion in Shiv Sena

June 24, 2022
Ajay Chaudhary, Shiv Sena MLA, MVA, Legislative party leader
City News

Deputy speaker of Maharashtra approves Ajay Chaudhary as Shiv Sena Legislative party leader

June 24, 2022
Maha Vikas Aghadi, MVA, Congress, NCP, Shiv Sena
City News

MVA survival crisis: NCP, Congress release fund’s worth of crores

June 24, 2022
Eknath Shinde, Shiv Sena, Maharashtra Political Crises, Mumbai
City News

Shiv Sena mouthpiece tells rebel MLAs, Mend your ways in time,

June 23, 2022
Sanjay Raut, MVA, Maha Vikas Agadhi, Shivsena
City News

Shiv Sena ready to walk out of MVA govt, says Raut

June 23, 2022
Eknath Shinde, Shiv Sena, Maharashtra Political Crises, Mumbai
City News

Eknath Shinde tweeted MLAs Sentiments

June 23, 2022
ADVERTISEMENT

LATEST

Foreign Exchange, Stock, Mutual fund,

Forex reserves dip by USD 5.87 bn to USD 590.588 bn in the week end

June 24, 2022
Tejashwi Yadav, Leader of Opposition of Bihar,

RJD’s Tejashwi Yadav accuses Centre of destabilising non-BJP governments: MVA crisis

June 24, 2022
uddhav thackeray, uddhav, thackeray, resignation, cm, chief minister, maharashtra, chief minister of maharashtra, hindutva, sena, shiv sena, shiv, bjp

I have left CM’s bungalow, not my determination, says Uddhav amid rebellion in Shiv Sena

June 24, 2022
Jammu and Kashmir, Corruption, Premature Retirement

‘Premature retirement’ of 9 employees over corruption: J-K govt orders

June 24, 2022

Eknath Shinde’s revolt has sparked a debate across India

June 24, 2022
ADVERTISEMENT
Afternoon Voice

© 2022 Newsmakers Publications Pvt. Ltd. | All rights reserved.

Important Links

  • Disclaimer
  • Privacy Policy
  • About Us
  • Contact Us
  • Support Parallel Media

Follow Us

No Result
View All Result
  • Home
  • Top News
  • City News
  • Nation
  • World
  • Business
  • Entertainment
    • Bollywood
    • Hollywood
  • Sports
    • Cricket
    • Hockey
    • Tennis
    • Football
    • Badminton
  • Editorial
  • Opinion
    • Column
    • Diary
    • Letters
  • Epaper
  • More
    • Editor’s Pick
    • Featured
    • Lifestyle
    • Different Strokes
    • Multimedia
    • Sci-Tech
    • Politics

© 2022 Newsmakers Publications Pvt. Ltd. | All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?