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BHARTI KOTHARI (practising advocate)     19 December 2016

Insurance claim


 sir I have taken finance from bank for purchasing vehicle and bank has arranged for the finnace and also arrange for insurance to secure the loan amount. i think it act as insurance agent and deducted premium amount from fiance amount and probably would have got insurance commission. that the said vehicle has stolen and immediately F.I.R WAS lodged and intimation was send TO bank however later insurance company has repudiated claim as it has not been informed immediately. however we have intimated to bank but because of unknowledge we have not obtained acknowledged copy. now bank has obtained award for loan amount against us from chennai, we stay at mumbai. practically it was not viable for us to attend arbiteration so they got ex parte award. now what we can do . please suggest

 3 Replies

Kumar Doab (FIN)     19 December 2016

Preferably show all concerned docs to a very able counsel specializing in consumer matters at your location.

Suri.Sravan Kumar (senior)     19 December 2016

IRDA issued circular dated 20/9/2011 which says that genuine claims cannot be rejected on technical grounds including the delay..The Hon'ble National Commission in National Insurance Co Ltd V/S B.Venkata swamy RP no 2852/2013 dated 6/2/2014 held that on technical grounds such as delay in intimation and submission of documents cannot be invoked to reject bonafide claims.

relying on the above information you can take appropriate action.

1 Like

Kumar Doab (FIN)     19 December 2016

You can benefit from the advise of  senior Mr.Suri.Sravan Kumar.

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