insurance sector - Page 2

Third Party Insurance is deemed to be Transferred in Case of Hire Agreement

Uttar Pradesh State Road Transport Corporation Vs National Insurance Co. Ltd. (Supreme Court of India)

SC Held That (Motor Vehicles Act ,1988) - Third Party Insurance deemed to be transferred along with effective control over vehicle in a Hire Agreement....

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Compilation of Articles on Some Important Aspects of Insurance

As you are aware that Insurance has become an important part of our life. An insurance policy provides us security against financial loss due to perils incorporated in the Insurance Contract or we can call it insured perils. Since India is a very large country and having population approximately of 135 Crores even though insurance [&helli...

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Posted Under: Corporate Law |

Plans sold by ‘Even Healthcare’ are not health insurance plans: IRDAI

It has come to the notice of IRDAI that an entity by the name ‘Even Healthcare Pvt Ltd’ having their corporate office at ‘No.311,6th Main Road, HAL 2nd Stage, Indira nagar, Bengaluru, Karnataka- 560038’ and having website www.even.in is offering health plans. It is to inform the public that the plans offered by Even Health...

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Posted Under: Corporate Law | ,

Oriental Fire and General Insurance Company Limited (Merger) Amendment Scheme, 2022

Notification No. S.O. 1823(E). 13/04/2022

(1) This Scheme may be called the Oriental Fire and General Insurance Company Limited (Merger) Amendment Scheme, 2022. (2) It shall come into force on the date of its publication in the Official Gazette....

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National Insurance Company Limited (Merger) Amendment Scheme, 2022

Notification No. S.O. 1822(E) 13/04/2022

(1) This Scheme may be called the National Insurance Company Limited (Merger) Amendment Scheme, 2022. (2) It shall come into force on the date of its publication in the Official Gazette....

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United India Fire and General Insurance Company Limited (Merger) Amendment Scheme, 2022

Notification No. S.O. 1821(E) 13/04/2022

(1) This Scheme may be called the United India Fire and General Insurance Company Limited (Merger) Amendment Scheme, 2022. (2) It shall come into force on the date of its publication in the Official Gazette....

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Health Insurance for all Indians

During my earlier stint when I was in UAE and Abu Dhabi in specific, I was made in charge of the Insurance department of the company where I worked and I had acquired good practical knowledge since medical insurance is compulsory in the Emirate of Abu Dhabi and our company had a strength of nearly […]...

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Posted Under: Corporate Law |

Any Change in Terms & Conditions of Insurance Should be Intimated to Insured at the Time of Renewal: SC

Jacob Punnen Vs United India Insurance Co. Ltd. (Supreme Court of India)

An insurance company has obligation and duty to intimate the insured at the time of renewal of exiting insurance polices ,if there is any change in the terms and conditions of insurance. It is generally assumed that renewal of an insurance policy will be held on the basis of terms and conditions contains in the old insurance policy and th...

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Non-Disclosure or Concealment of Material Facts Under Insurance

As you are aware that contract of insurance is based on the doctrine of ‘Utmost Good Faith’ ,which means a person applying for an insurance cover has to disclose and reveal all material information required by insurance company. Material Information means all those information on the basis of which underwriter access the risk ...

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Posted Under: Corporate Law |

Insurance Claim Against Unregistered Vehicles Not Payable: SC

United India Insurance Co. Ltd. Vs Sushil Kumar Godara (Supreme Court of India)

Registration of a Vehicles according to the provisions of Section 39 of MVA ,1988 is mandatory and a person without valid registration is not allowed to drive vehicle at public place. Use of a vehicle without proper registration number is a violation of terms and conditions of an insurance policy and hence any claim, whether it was of the...

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