Page 53 - Insurance Times January 2024

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Insurance firm executive held for Rs. 21 In the order related to the foetus, the tribunal said in sev-
eral instances premature delivery takes place during the
lakh fraud seventh month of pregnancy and the child survives which

The detective department has nabbed an insurance com- did not happen in the current case.
pany executive who allegedly changed registered phone
numbers of several policy holders of the firm - one of the "There is punishment for the offence of miscarriage. There-
biggest in India - and reportedly siphoned Rs 21.5 lakh, in fore the mother is entitled to compensation for pain and
three tranches, by premature closure of policies. suffering, loss of amenity and enjoyment of life," tribunal
member Manish S Agrawal said. While Rs 2 lakh was
According to DC (cyber) Atul Vishwanathan, accused Dinesh awarded towards compensation due to pain and suffering,
Prasad (37) of Nilachal Abasan at Hatiara Bypass under Eco Rs 1 lakh was towards loss of amenity and Rs 3 lakh towards
Park PS used his technical expertise to change phone num- enjoyment of life and loss of child.
bers of policyholders and closed policies before their terms
were to end using his online access. The tribunal said the unborn child can be held to be a "per-
son" who can be the subject of an action for damages for
He also transferred a part of the money to his account, said his death. "Had the accident not occurred the child would
Atul. The cops have registered a case under several sec- have seen the light of the day," the tribunal said.
tions of cheating, fraud and criminal conspiracy.
Bank held liable for delay in insurance
For miscarriage after accident, tour co
purchase
asked to pay woman Rs. 10Lac
Saraswati Paul had applied to the State Bank of India,
Observing that from five months a foetus in its mother's
womb till birth can be treated as equal to a child in exist- Radhanagar Branch, for a loan for her grocery business. A
ence, a motor accident claims tribunal, in perhaps the first loan of Rs 8.99 lakh was sanctioned on March 28, 2008.
such order, recently directed a tours and travel company The terms of the loan stipulated that insurance coverage
to pay around Rs 10 lakh compensation with interest to a was necessary to cover risks to goods and property pertain-
now 40-year-old woman who had a miscarriage seven ing to the business.
months into her pregnancy when a speeding car rammed On February 6, 2009, the bank debited Rs 2,892 from
head on into the bike her husband was riding in Goregaon Saraswati's account for payment of premium to obtain two
in 2014. Standard Fire and Perils Policies from New India Assurance

Her husband died in the accident and she gave birth to a Co. These policies were valid from February 9, 2009, to
stillborn boy. Both husband and wife worked for a multina- February 8, 2010.
tional company. On January 5, 2009, the truck carrying items related to her
In a separate order, the woman was awarded a compen- grocery business met with an accident, resulting in a loss
sation of around Rs 2.4 crore with interest as her husband of goods worth about 6 lakh. As the accident had occurred
died in the accident. In a third order, she too was awarded on January 5, 2009, prior to the issuance of the policies on
a compensation of around Rs 24 lakh with interest for the February 9, 2009, the loss was not covered by the insur-
head injuries she suffered. The compensation will have to ance company. Saraswati defaulted in repayment of the
be paid by Goregaon-based Amol Tours and Travels. loan due to the loss incurred as a result of the accident.

48 January 2024 The Insurance Times