{"id":243644,"date":"2021-02-10T11:54:00","date_gmt":"2021-02-10T06:24:00","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=243644"},"modified":"2021-02-19T11:06:18","modified_gmt":"2021-02-19T05:36:18","slug":"ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/","title":{"rendered":"NCDRC | If an employee of a stockbroker conducted fraudulent arbitrage operations for personal benefit causing loss to stockbroker company, would that be covered under \u2018Fidelity\u2019 clause of an insurance claim? Read on"},"content":{"rendered":"

National Consumer Disputes Redressal Commission (NCDRC): <\/strong>The Division Bench of Justice R.K. Agrawal (President) and Dr S.M. Kantikar (Member) while partly allowing the complaint expressed that the surveyors of the insurance company adopted a conservative approach and kept demanding for information without any further clarification.<\/p>\n

Complainant filed the instant complaint against the Opposite Party under Section 21(a)(i) of the Consumer Protection Act, 1986.<\/p>\n

Complainant Co. was engaged in the business of arbitrage between NSE and BSE. As per the requirements of NSE and BSE, the complainant company took the insurance cover from the OP for cover amount of Rs 1 crore. The said policy was being renewed every year regularly, which covered \u201cfidelity\u201d <\/strong>under Section 1A of the terms and conditions of the policy. Nilesh Patel was incharge and looking after the arbitrage operations and other back-office work related to the updating of trade datas, MIS reports and deciding about volume of arbitrage. He was drawing salary and entitled to annual bonus like other employees. Alongwith that, he was not allowed to trade on his own or otherwise, any time.<\/p>\n

It was noted that Mr Nilesh Patel committed huge fraud by transferring the losses into the accounts of companies clients. Complainant submitted that the said acts were fraudulent, unauthorized, without consent or permission of authority of the Complainant Co. and\/ or his constituents.<\/p>\n

Complainant company filed an insurance claim with the OP Insurance Co. OP rejected the claim of the complainant co. on the ground of speculative trading entered into by its employee which was outside the scope of the policy.<\/p>\n

BSE observed that the loss incurred to the complainant was due to the fraud and infidelity of its employee and it was not speculative trading. OP still refused to settle the insurance claim.<\/p>\n

On being aggrieved with the above position, the consumer complaint was filed.<\/p>\n

Analysis and Decision<\/u><\/strong><\/p>\n

Bench observed that the two surveyors appointed by the insurance company failed to act as per IRDA guidelines and unnecessarily delayed the settlement of the claim. Complainant company though had submitted the entire details as sought, yet the surveyors made repeated demands for additional information.<\/p>\n

In view of the above, the Commission found that the surveyors did not follow the IRDA guidelines which was a deficiency of service of the part of the OP.<\/p>\n

The Complainant suffered loss due to dishonest actions of its employee Nilesh Patel who confessed his misdeeds and due to guilt, he committed suicide.<\/p>\n

Commission opined that the complainant\u2019s claim would be squarely covered under Section 1A i.e. \u2018Fidelity\u2019.<\/p>\n

\u201c1. FIDELITY <\/em><\/p>\n

Loss resulting solely and directly from dishonest or fraudulent acts by Employees of the Insured committed with the manifest intent to cause the insured to sustain such loss or to obtain a financial gain for themselves wherever committed and whether committed alone or in collusion with others, including loss of property through any such acts by Employees.\u201d <\/em><\/p>\n

Evidence on record clearly establishes that the Complainant Co. suffered a loss due to fraudulent acts of Mr Nilesh Patel, the employee of the Company.<\/p>\n

Bench on perusal of the record expressed that it was the apprehension of the Surveyors who surveyed arbitrage transactions only theoretically and failed to grasp the sophisticated techniques adopted by the complainant co. for arbitrage transactions.<\/p>\n

Commission found that it was the baseless presumption of the Surveyors that Mr Nilesh Patel possibly attempted to make profits on speculative transactions, since his remuneration could be performance-based.<\/p>\n

Based on the entirety the deficiency in service on the part of Insurance Co. was evident. OP was directed to pay an insurance claim of Rs 1 crore to the complainant co. alongwith interest @9% p.a. [R.R. Chokhani Stock Brokers (P) Ltd. v. New India Assurance Co. Ltd., 2021 SCC OnLine NCDRC 20<\/b><\/a>, decided on 04-02-2021]<\/p>\n

\n

Advocates for the parties:<\/strong><\/p>\n

For the Complainant: Harish Malhotra, Senior Advocate with Ramakant Chokhani, AR<\/span><\/p>\n

For OPs: P.K. Seth, Advocate<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

National Consumer Disputes Redressal Commission (NCDRC): The Division Bench of Justice R.K. Agrawal (President) and Dr S.M. Kantikar (Member) while partly allowing <\/p>\n","protected":false},"author":8808,"featured_media":199533,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[45123,10141,2617,29785,34913,45122],"class_list":["post-243644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies","tag-fidelity","tag-fraud","tag-insurance_claim","tag-law","tag-losses","tag-stockbroker"],"yoast_head":"\nNCDRC | If an employee of a stockbroker conducted fraudulent arbitrage operations for personal benefit causing loss to stockbroker company, would that be covered under \u2018Fidelity\u2019 clause of an insurance claim? Read on | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NCDRC | If an employee of a stockbroker conducted fraudulent arbitrage operations for personal benefit causing loss to stockbroker company, would that be covered under \u2018Fidelity\u2019 clause of an insurance claim? Read on\" \/>\n<meta property=\"og:description\" content=\"National Consumer Disputes Redressal Commission (NCDRC): The Division Bench of Justice R.K. Agrawal (President) and Dr S.M. Kantikar (Member) while partly allowing\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-10T06:24:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-19T05:36:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1330\" \/>\n\t<meta property=\"og:image:height\" content=\"887\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bhumika Indulia\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bhumika Indulia\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/\",\"name\":\"NCDRC | If an employee of a stockbroker conducted fraudulent arbitrage operations for personal benefit causing loss to stockbroker company, would that be covered under \u2018Fidelity\u2019 clause of an insurance claim? Read on | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg\",\"datePublished\":\"2021-02-10T06:24:00+00:00\",\"dateModified\":\"2021-02-19T05:36:18+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg\",\"width\":1330,\"height\":887,\"caption\":\"National Consumer Disputes Redressal Commission\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NCDRC | If an employee of a stockbroker conducted fraudulent arbitrage operations for personal benefit causing loss to stockbroker company, would that be covered under \u2018Fidelity\u2019 clause of an insurance claim? Read on\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a\",\"name\":\"Bhumika Indulia\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg\",\"caption\":\"Bhumika Indulia\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/editor_1\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"NCDRC | If an employee of a stockbroker conducted fraudulent arbitrage operations for personal benefit causing loss to stockbroker company, would that be covered under \u2018Fidelity\u2019 clause of an insurance claim? Read on | SCC Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/","og_locale":"en_US","og_type":"article","og_title":"NCDRC | If an employee of a stockbroker conducted fraudulent arbitrage operations for personal benefit causing loss to stockbroker company, would that be covered under \u2018Fidelity\u2019 clause of an insurance claim? Read on","og_description":"National Consumer Disputes Redressal Commission (NCDRC): The Division Bench of Justice R.K. Agrawal (President) and Dr S.M. Kantikar (Member) while partly allowing","og_url":"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2021-02-10T06:24:00+00:00","article_modified_time":"2021-02-19T05:36:18+00:00","og_image":[{"width":1330,"height":887,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg","type":"image\/jpeg"}],"author":"Bhumika Indulia","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Bhumika Indulia","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/","url":"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/","name":"NCDRC | If an employee of a stockbroker conducted fraudulent arbitrage operations for personal benefit causing loss to stockbroker company, would that be covered under \u2018Fidelity\u2019 clause of an insurance claim? Read on | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg","datePublished":"2021-02-10T06:24:00+00:00","dateModified":"2021-02-19T05:36:18+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg","width":1330,"height":887,"caption":"National Consumer Disputes Redressal Commission"},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/10\/ncdrc-if-an-employee-of-a-stockbroker-conducted-fraudulent-arbitrage-operations-for-personal-benefit-causing-loss-to-stockbroker-company-would-that-be-covered-under-fidelity-claus\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"NCDRC | If an employee of a stockbroker conducted fraudulent arbitrage operations for personal benefit causing loss to stockbroker company, would that be covered under \u2018Fidelity\u2019 clause of an insurance claim? Read on"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a","name":"Bhumika Indulia","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg","caption":"Bhumika Indulia"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_1\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":34231,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/02\/01\/repudiation-of-claim-by-insurance-companies-on-the-ground-of-delay-in-intimation-of-theft-of-vehicles-upheld\/","url_meta":{"origin":243644,"position":0},"title":"Repudiation of claim by insurance companies on the ground of delay in intimation of theft of vehicles, upheld","author":"Sucheta","date":"February 1, 2016","format":false,"excerpt":"National Consumer Disputes Redressal Commission (NCDRC):\u00a0While observing that the theft of a vehicle is required to be reported to the insurance company immediately after the theft is detected otherwise the insurer is not liable to reimburse the insured for such a loss, NCDRC upheld the repudiation of insurance claim by\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"National Consumer Disputes Redressal Commission","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":99271,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/01\/13\/repudiation-of-claim-by-insurance-company-on-the-ground-of-failure-of-written-intimation-of-theft-of-vehicle-held-proper\/","url_meta":{"origin":243644,"position":1},"title":"Repudiation of claim by insurance company on the ground of failure of written intimation of theft of vehicle, held proper","author":"Saba","date":"January 13, 2017","format":false,"excerpt":"National Consumer Disputes Redressal Commission (NCDRC): \u00a0NCDRC has held that failure of the insured to give immediate information of theft in writing to the insurance company would entitle the insurance company to repudiate the claim. While observing this, NCDRC upheld the repudiation of insurance claim by Reliance General Insurance Co.\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"National Consumer Disputes Redressal Commission","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":6405,"url":"https:\/\/www.scconline.com\/blog\/post\/2014\/12\/10\/repudiation-of-insurance-claim-for-goods-destroyed-in-a-fire-upheld1\/","url_meta":{"origin":243644,"position":2},"title":"Repudiation of insurance claim for goods destroyed in a fire, upheld","author":"Sucheta","date":"December 10, 2014","format":false,"excerpt":"National Consumer Disputes Redressal Commission (NCDRC): NCDRC has upheld the repudiation of insurance claim for goods destroyed in a fire on the ground that complainant was under obligation to intimate insurance company about change of place of business and to get necessary endorsement on the policy but he failed to\u2026","rel":"","context":"In "Tribunals\/Commissions\/Regulatory Bodies"","block_context":{"text":"Tribunals\/Commissions\/Regulatory Bodies","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/tribunals_commissions_regulatorybodies\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":6262,"url":"https:\/\/www.scconline.com\/blog\/post\/2014\/12\/10\/repudiation-of-insurance-claim-for-goods-destroyed-in-a-fire-upheld\/","url_meta":{"origin":243644,"position":3},"title":"Repudiation of insurance claim for goods destroyed in a fire, upheld","author":"Sucheta","date":"December 10, 2014","format":false,"excerpt":"National Consumer Disputes Redressal Commission (NCDRC): NCDRC has upheld the repudiation of insurance claim for goods destroyed in a fire on the ground that complainant was under obligation to intimate insurance company about change of place of business and to get necessary endorsement on the policy but he failed to\u2026","rel":"","context":"In "Tribunals\/Commissions\/Regulatory Bodies"","block_context":{"text":"Tribunals\/Commissions\/Regulatory Bodies","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/tribunals_commissions_regulatorybodies\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":308060,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/30\/insurance-policy-issued-after-inspection-objections-misrepresentation-non-disclosure-cannot-raised-structure-in-fire-ncdrc\/","url_meta":{"origin":243644,"position":4},"title":"Policy issued after inspection, objections of misrepresentation or non-disclosure cannot be raised after structure was gutted in fire: NCDRC","author":"Ridhi","date":"November 30, 2023","format":false,"excerpt":"NCDRC concluded that the Insurance Company failed to establish any misrepresentation or non-disclosure of material facts while obtaining the insurance policy.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"national consumer disputes redressal commission","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/national-consumer-disputes-redressal-commission.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/national-consumer-disputes-redressal-commission.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/national-consumer-disputes-redressal-commission.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/national-consumer-disputes-redressal-commission.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":240712,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/12\/15\/ncdrc-investigation-and-survey-by-an-insurance-company-are-fundamental-in-determining-the-amount-payable-to-insured-can-a-survey-be-disregarded-or-dismissed-read-commissions-decision\/","url_meta":{"origin":243644,"position":5},"title":"NCDRC | Investigation and Survey by an insurance company are fundamental in determining the amount payable to insured: Can a survey be disregarded or dismissed? Read Commission’s decision","author":"Bhumika Indulia","date":"December 15, 2020","format":false,"excerpt":"National Consumer Disputes Redressal Commission (NCDRC): Dinesh Singh (Presiding Member) while addressing the instant first appeal upheld the State Commission's Order in regard to a claim filed by the insured with the insurance company. The instant appeal was filed under Section 19 of the Consumer Protection Act, 1986 challenging the\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"National Consumer Disputes Redressal Commission","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/08\/NCDRC_.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/243644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=243644"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/243644\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/199533"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=243644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=243644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=243644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}