Business Standard

Typo can't be basis for denial of claim

The State Commission concluded the insurer could not take advantage of a typographical error on the bank's part to repudiate a legitimate claim

consumer protection, law, court, ruling

Photo: Shutterstock

Jehangir B Gai

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Satya Traders had obtained a Shopkeeper’s Insurance Policy from National Insurance, which was valid from July 17, 2009, to July 16, 2010. The policy provided coverage for various risks with specific limits: Rs 4 lakh for fire & allied perils, Rs 4 lakh for burglary and housebreaking, Rs 8,500 for money in transit, Rs 4,000 for money kept in a safe, and Rs 1,700 for baggage, amounting to a total of Rs 8,14,200.

While the policy was active, the insured’s shop in Kurnool was flooded on October 2, 2009, damaging the entire stock worth Rs 5,12,250.

A claim was made under the
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of or the Business Standard newspaper

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First Published: Mar 31 2024 | 10:44 PM IST

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