Insurance Claims: Know About Jharkhand HC's Ruling

Outlook Money

Court Ruling 

In a case involving the insurance claims, the Jharkhand high court has ruled that the insurance companies can't reject claims if there is an incorrect policy number.

legal

Wrong Policy Number 

A wrong policy number cannot simply mean that the liability of the company can be ruled out because the claimants do not know the correct policy number. 

Wrong Policy Number

Court’s Judgment

The judgement of the court reinforces that there must be an insurance regulator’s guidance for insurers to handle claims. 

Court’s Judgment

Insurance Regulatory and Development Authority of India (Irdai)

In a 2024 circular, IRDAI had advised that claims should not be rejected because of the procedural flaws in policy documents. 

IRDAI

Compensation

The circular by IRDAI was passed to make sure that the claimants weren't denied of compensation due to small mistakes. 

Compensation

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