Siddhi 24 August 2023

Is Insurance police holder a consumer?

What is the legal status of Insurance policy holder?
Is he/she a consumer and can claim interest due to deliberate refusal to pay claim amount?
TIA

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Quick Summary

An insurance policy holder is legally recognised as a consumer. This means they can take action against an insurance company for deficiency in service or unfair trade practices. While claiming interest on delayed payments might be complex, consumers can seek compensation for mental and physical distress caused by the insurer's actions.

4 Replies

Real Soul.... (LEGAL) 24 August 2023

Yes certainly

Advocate Bhartesh goyal (advocate) 24 August 2023

Yes, insurance policy holder is a consumer and can't claim interest but can claim compensation towards mental and physical agony caused to him due to deficiency in services of Insurance company.

T. Kalaiselvan, Advocate (Advocate) 24 August 2023

Insurance policy holder is certainly a consumer who can sue the insurance company for the deficiency in service, unfair trade practice and other remedies through consumer distress rederessal commission.