Page 29 - The Insurance Times September 2022

ICICI Lombard General Insurance premium paid, subject to the terms, conditions, exclusions
and definitions contained herein the Company agrees as
Company Limited
under.
"ICICI Lombard General Insurance Company Limited ("We/
Us"), having received a Proposal and the premium from the Anybody can question why we choose these companies only?
Policy Holder named in Part I of the Policy (hereinafter They are chosen at random. Please do not conclude we love
referred to as the "Policy Schedule") and the said Proposal Aditya Birla Insurance Company and hate Tata AIG General
and Declaration together with any statement, report or Insurance Company. These seven insurance companies
other document leading to the issue of this Policy and Preamble is appended for information. A bit tedious, but
referred to therein having been accepted and agreed to by request you to read for the reason that YOU are paying
Us and the Policy Holder as the basis of this contract…" huge premium and not indemnified if there were to a health
claim!
Iffco-tokio General Insurance Company
Aditya Birla Health Insurance Company's Preamble of Health
This policy is evidence of the contract between you and us.
Insurance Policy starts in this manner: This policy has been
The proposal along with any written statement(s),
issued on the basis of the Disclosure to Information Norm.
declaration(s) of yours for purpose of this policy forms part
Now, you may command me to stop here and demand to
of this contract
know: what is Disclosure to Information Norm? We searched
the policy wording my dear friends; did not find it in their
Liberty General Insurance
health insurance policy.
"Liberty General Insurance (hereinafter called the
"Company", "We, Our, or Us") will provide insurance cover
Edelweiss Health Insurance policy also refers to the
to the person(s) (hereinafter called the "Insured", "You,
Disclosure to Information Norm. ICICI Lombard does not
Your, or Yourself") based on the Proposal made and agreed
refer to the Disclosure Norm. In case of IFFCO TOKIO
premium paid within such time, as may be prescribed under
General Insurance Company- the Policy Wording do not refer
the provisions of the Insurance Act, 1938…"
to anything at all. Further, the mistakes you see in their
preamble are not committed by us. They are verbatim
Life Insurance Corporation of India copied. They are in hurry for business. Liberty General
"THE LIFE INSURANCE CORPORATION OF INDIA (hereinafter Insurance startsyet another issue; they do not refer to
called "the Corporation") having received a Proposal along Disclosure to Information Norm…on the contrary this is the
with Declaration and the first premium from the Proposer only company of the seven refers to the Insurance Act, 1938.
LIC and Start Health and Allied Insurance Companies do not
and the Principal Insured named in the Schedule referred
to herein below and the said Proposal and Declaration with refer to Disclosure to Information Norm and the Insurance
the statements contained and referred to therein having Act either.
been agreed to by the Proposer and…"
What is disclosure to information norm? It simply means the
following gibberish: 'The policy shall be void and all premium
Star Health and Allied Insurance
paid hereon shall be forfeited to the company in the event
Company of misrepresentation, misdescription or non-disclosure of any
material fact.'
The proposal, declaration and other documents if any given
by the proposer shall be the basis of this Contract and is
Sir / Madam, you paid the premium…your hard-earned
deemed to be incorporated herein. In consideration of the
money. Pray tell what these words mean? The Insurers have
huge Insurance librarieson misrepresentation,
misdescription, non-disclosure, material fact, forfeiting and
void. You were never explained and probably, you will never
be explained.

If you are interested in knowing more then you need to
contact us and read future articles. See you in our next
article. Stay healthy.

The Insurance Times, September 2022 29