New India Assurance Limited,an insurance firm,has been penalised by the UT Consumer Forum for denying a legitimate claim of insurance. The companys branch in Sector 34-A has been directed by the UT Consumer Forum to pay Rs 50,000 for a cow insurance that they refused to grant on the grounds that the cow that had died was not the one insured by the firm.
When the owner,Darshan Singh from Hoshiarpur in Punjab,informed the company of the animals death in August 2011,a post-mortem was conducted by the veterinary doctor. The company,however,refused the insurance claim on the grounds that the description of the dead animal did not tally with the insured cow.
The surveyor appointed by the company,who inspected and took photographs of the cow,reported it to be a different brown and white colour than the black and white colour of the insured cow. However,the black and white colour mentioned in the health certificate at the time of insurance tallied with the colour in the post-mortem report,confirming the dead animal to be the insured cow. The company has been directed to pay an interest of 12% per annum from the date of refusing the claim and a penalty of Rs 5,000,to be paid within a month.
Insurance firm told to refund
for framing wrong policy
CHANDIGARH: Max New York Life Insurance Company Limited,DLF Phase II,Gurgaon, has been directed to refund Rs 50,000 paid as premium for two insurance policies that were issued under incorrect names.
Complainant Dinesh Narain Mishra,a resident of Sector 33,alleged that instead of issuing the policy in the name of his wife and himself,the companys policy bore the names of the two nominees. The company,however,argued that the complainant had not signed the policy papers and,hence,was not a consumer. Instead,they had received proposal forms duly filled and signed by the two nominees and,so,the policy was issued in their names.
The company,as a goodwill gesture,agreed to refund Rs 50,000,but since the intention was expressed after filing of the complaint,the complainant has been awarded a compensation of Rs 5,000,in addition to the policy refund,to be paid within one month.