Court docket Orders Insurance coverage Agency to Pay Compensation in 4 Weeks

Court docket Orders Insurance coverage Agency to Pay Compensation in 4 Weeks


SRINAGAR: In response to a criticism lodged with the Erstwhile State Shopper Safety Fee Jammu on March 27, 2006, in opposition to Nationwide Insurance coverage Firm Restricted, relating to deficiency of service and unfair commerce practices, the District Shopper Disputes Redressal Fee (DCDRC) in Baramulla, Bandipora on Wednesday handed a judgment in favor of the customers after 17 years.

The judgment mandates the corporate to pay a sum of Rs 6 lakhs to the complainants together with an curiosity of 10 % from the date of submitting the criticism inside 4 weeks. The judgment additionally directs the insurance coverage firm to pay Rs 50 thousand to the complainant for inflicting psychological and bodily harassment and litigation costs.

The criticism was lodged by residents of Usman Colony, Khawaja Bagh, whose home sustained harm within the earthquake that occurred on October 8, 2005, and was left uninhabitable.

The property in query was insured by Nationwide Insurance coverage Firm Restricted for a sum of Rs 13 lakhs in opposition to such eventualities, however the firm failed to satisfy its contractual obligation to compensate the complainants for the incurred losses.

The judgment handed by the bench presided by the President of DCDRC Baramulla, Peerzada Kousar Hussain, and different member Choose Nyla Yaseen discovered the insurance coverage firm responsible of unfair commerce practices underneath part 12 of the Shopper Safety Act 1985 and therefore directed them to compensate the complainant based on the set phrases inside 4 weeks. (GNS)

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