Page 49 - Insurance Times November 2018

n uranc on u r oru o n ia

a ara tra Stat o i ion on lod d t i d to n out o its cont actual obli ation
by sayin that th as a ty o a hical o
tract r ai o r circu ar

a a mal otha i had ta n i nsu anc o o a n in its uly ci cula it did not indicat any ty
tion o ndia s s an a al olicy ith o its om o a hical o but call d it a disc ancy lyin on th
its dhna anch t sti ulat d th matu ity sum assu d u m ou t s d cision in nit d ndia nsu anc s
as s million d ath b n it as s and acci o o ation that a cont act o insu anc ould ail o
d nt b n it as s million h t nu as y a s any int nal ci cula s o statuto y uid lin s th tat
om a ch to a ch h annual ommission h ld that s ci cula could not d i th
mium as s insu d o ttin th matu ity alu stat d in th cont act

a iod o y a s otha i aid a total mium o cco din ly by its o d o un d li d by sha
s million h n th olicy matu d did not ay ha a o th nch alon ith oshi th aha asht a
th matu ity amount o s million nst ad aid him tat ommission conclud d that could not b allo d
s alon ith o it loyalty o s h n to a oid its cont actual liability this mitt d it
otha i s nt a s ntation to th s b anch o ic as
ould iolat th sanctity o any cont act at any oint o tim
ll as th h ad o ic in umbai th co o ation claim d at th hims and anci s o on o th a ti s nc
that th i u s had ot int chan d du to a ty o a hi as di ct d to ay th matu ity alu o s million
cal o h co o ation th n issu d a ci cula dat d uly stat d in th olicy alon ith o its loyalty o s
di ctin all its o ic s to t os cti ly co ct totallin s to th ith c nt int st
all th an a al olici s issu d om on a ds om th dat o matu ity lso s as a a d d as
com nsation and s to a ds liti ation costs
otha i il d a com laint b o th aha asht a tat
ommission a u d that th claim had b n o ly
n uranc o an cannot n c ai
s ttl d and accus d otha i o t yin to ta un ai ad an
it out roo
ta o a ty o a hical mista t li d on its int nal
ci cula o uly di ctin th co ction o mass m t ha ma had ta n an asy alth nsu anc
scal disc anci s in th an a al olicy issu d i ht olicy om ollo unich alth nsu anc o his a nts
om on a ds till h olicy hich comm nc d om c mb
as n d ula ly mium o s as aid
hil ctin s cont ntions th ommission obs d o th iod c mb to o mb
that du in th y a t nu o th olicy had n u in th thi d y a o th olicy ha ma s moth un
m ntion d this mista n h n th olicy as s nt o d nt h a t su y o ao tic and mit al al lac
a chan in nomination it main d ith o days m nt at o ilab n hi ubhai mbani hos ital cashl ss
and as s nt bac ithout any chan in th co a acility o s as sanction d o this su y hich
b n its t as only on matu ity h n th claim as as o m d on u ust

Th T