Finance : Section 10(10D) provides exemption only when premium limits are within prescribed thresholds. If premiums exceed these limits, mat...
Finance : The article highlights the need for integrated travel and health insurance to manage both medical emergencies and trip disruptions...
Income Tax : Even where premium limits are exceeded, death benefits continue to be fully exempt. This ensures protection for beneficiaries. The...
Finance : Cyber insurance helps cover financial losses from cyberattacks like hacking and data breaches. It is becoming essential as digital...
Finance : The restoration feature ensures that insurance coverage can be reinstated after a major claim, helping maintain protection for oth...
Corporate Law : IRDAI formed a sub-committee to review private health insurance and improve policyholder experience. The initiative focuses on exp...
Corporate Law : The issue concerns identification of systemically important insurers. The regulator retained the same entities, emphasizing their ...
Corporate Law : IRDAI directs insurers to follow anti-dark pattern guidelines and submit compliance reports. The move strengthens consumer protect...
Corporate Law : The Government clarified that claim rejections are based on policy conditions like exclusions and OPD classification. IRDAI mandat...
Corporate Law : IRDAI is moving towards adopting Ind AS to standardize financial reporting across insurers. The framework aims to improve transpar...
Corporate Law : Supreme Court held that insurers impleaded as parties can raise all grounds, including quantum challenges. It remitted the case fo...
Income Tax : The SC upheld that reinsurance premiums paid to foreign entities are not taxable in India. It confirmed that absence of income acc...
Income Tax : The High Court held that reinsurance premiums paid to non-residents are not taxable in India and no TDS is required. It upheld Tri...
Corporate Law : SC affirmed a fire insurance claim after insurer attempted repudiation based on an arbitrary surveyor's report. Ruling held that o...
Corporate Law : Supreme Court rules pre-2015 life insurance policies were freely transferable, affirming High Court's decision against LIC's refus...
Corporate Law : IRDAI delegates Section 34 powers between Whole Time Members and Chairperson. The move aims to streamline enforcement actions and ...
Corporate Law : The notification addressed mandatory reinsurance cession for general insurance policies. It mandates 4% cession to GIC Re, ensurin...
Corporate Law : The issue was the need to address increasing cyber risks in the insurance sector. IRDAI introduced updated guidelines with enhance...
Corporate Law : The circular shifts SLAs from a renewal-based licensing system to a registration regime with annual fees. This ensures continuity ...
Corporate Law : IRDAI constituted a Joint Expert Group to tackle transition and implementation issues under Ind AS. The group will guide insurers ...
Certain provisions of Insurance Act not to apply in Special Economic Zone and International Financial Services Centre
Saurashtra Chemicals Ltd. Vs. National Insurance Co. Ltd (Supreme Court) BRIEF FACTS: 1. The appellant purchased a standard fire and special perils policy from the respondent National Insurance Company Ltd. thereby insuring the risk of loss/damage to the stock of coal and lignite stored in its factory compound. 2. An additional premium was paid by […]
SC held that The period of limitation shall be governed by the Act and not by Section 44A of the CPC, since the latter provides only for the procedure to be followed for executing a foreign decree
SC held that In Case Of Specific Risks, such as those arising from loss due to fire etc. , the Insured Cannot profit and take advantage by double Insurance.
Since there are many ambiguity in definition of various social welfare laws in India. They have not clearly defined the Workmen and each laws define Workmen differently. The Apex Court of India in above case define ( what constitutes as a workman and as to what differentiates contract of service from contract for service).
Supreme Court in National Insurance Company Ltd. vs. M/s. Hareshwar Enterprises (P) Ltd. & Ors. held that In settlement of insurance claims the surveyors report is not final and conclusive.
The compensation for medical expenses is a matter of reimbursement and hence once the insurance company has chosen to compensate the victim of road accident for medical expenses, the same cannot be once again claimed under the Motor Vehicles Act
Coverage of ‘Flood & Inundation’ insurance includes damage caused by heavy rains and not just overflowing of river.
Secure your familys financial future with the Married Womens Property Act, 1874. Learn how this legal provision safeguards insurance proceeds from creditors, ensuring your loved ones receive the benefits. Dont let debts compromise your familys well-being; understand the provisions and benefits of the MWP Act today. Discover the simple and cost-effective process to cover your life insurance policy under this act, providing long-term protection for your family.
In the present case, entry by the culprits was by removal of roof sheet which cannot be done without use of force. Hence, it would be a case of violent entry for committing theft/burglary. It means that removal of roof sheets by culprits is considered as forceful entry into premises and hence comes under definition of theft or burglary based on the circumstances of the case and hence insurance company is liable for payment of claim.
