JAY SHANKAR SINGH Vs. INSURANCE REGULATORY DEVELOPME

JUDGEMENT

(1.) THE petitioner, Jay Shankar Singh, is owner of a vehicle, which was insured for the period 25th May, 2003 to 24th May, 2004 and then from 25th may, 2004 to 24th May, 2005 with the New India Assurance Company Ltd. Premium for both the policies was paid and accepted.

(2.) ON 16th March, 2004, the petitioner lodged a claim with New India Assurance company Limited on account of an accident, which had taken place on 26th March, 2004. The said claim obviously related to the policy period 23rd May, 2003 to 22nd May, 2004 but was made after policy for the period of 25th May, 2004 to 24th May, 2005 had already been issued. The respondent insurance company, scrutinized the claim, accepted the claim and made payment of Rs. 4,542/- on 19th August, 2004.

(3.) ON 22nd December, 2004, the petitioner filed an FIR for theft of the said vehicle. He also made a claim with the respondent insurance company, which was not accepted. The stand taken by the respondent insurance company as is also evident from the counter affidavit is that the petitioner while renewing the insurance policy for the period 25 th May, 2004 to 24th May, 2005 had claimed no claim bonus and accordingly paid the insurance premium at Rs 11301/ -. As claim payment of Rs 4542/- was made, higher premium without deduction of no claim bonus was payable. It is accordingly submitted by the respondent insurance company that claim for total loss cannot be examined and is not covered by the policy.