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RAM SURAT RAM MAURYA, INDER JIT SINGH
Muthoot Finance Limited – Appellant
Versus
New India Assurance Co. Ltd. – Respondent
ORDER
Dr. Inder Jit Singh, Member—The present Complaint has been filed under Section 21 (a) (i) of Consumer Protection Act, 1986 (for short ‘the Act’) by the Complainant against Opposite Party (OP) as detailed above, inter alia praying for:—
(i) To direct the Respondent, to immediately process the entire claim of the Complainant pertaining to “Package Policy in line with Bankers’ Indemnity Policy” bearing No. 76060346122400000056 dated 12.01.2013.
(ii) To direct the respondent to “disburse” the claim amount of Rs. 66,99,342/-(Rupees Sixty Six lakhs ninety nine thousand three hundred forty two only) to the Complainant, alongwith interest @ 18% p.a., with effect from 17.06.2013, till realization.
(iii) To award a sum of Rs. 35,00,000/- in favour of the Complainant, and against the Respondent, as compensation/damages, on account of the harassment, agony, loss of reputation suffered by the Complainant Company due to the deficiency in service on the part of the Respondent.
(iv) To award the cost of the present proceedings, in favour of the Complainant Company and against the Resp
Insurance Company cannot travel beyond grounds mentioned in repudiation letter.
The court emphasized timely settlement of insurance claims and the reliance on surveyor assessments despite the insurer's delays.
Coercion – Mere allegation is not sufficient to constitute that the Complainant was coerced.
Insurance claims must be assessed justly, with surveyor reports not being conclusive and subject to scrutiny.
Insurance companies must provide substantial proof when denying claims; unjust repudiation leads to enforceable obligations to pay agreed amounts.
Violation of terms and conditions – FIR Annexure ‘K’ was registered only on 02.09.2011 about two weeks after discovery of loss of jewellery – Therefore the complainant has failed to comply with the t....
Insurer should not repudiate claim of insured merely on ground of short delay.
IMPORATNT POINT Appointment of Surveyor – Insured can also appoint a Surveyor or loss accessor.
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