Corporate
5 noteable cases on Indeminity
1) Oriental Insurance Company Ltd vs. Nagappa: This case involved a dispute regarding the interpretation of the term "accident" in an insurance policy. The Supreme Court of India ruled that the term should be understood in its ordinary and natural sense, and not in a technical or legal sense. This case set a precedent for the interpretation of insurance policies and the scope of indemnity.
2) New India Assurance Co. Ltd. vs. R. Srinivasan: In this case, the Supreme Court addressed the issue of the insured's duty to disclose material facts at the time of purchasing an insurance policy. The court held that the insured has an obligation to provide all relevant information, and failure to do so may lead to the insurer denying the claim based on the principle of utmost good faith.
3) United India Insurance Company Ltd. vs. Pushpalaya Printers: This case dealt with the question of whether an insurance policy covers loss or damage caused by theft, even if the theft is committed by the insured himself. The court held that the policy provided indemnity for theft, regardless of whether the insured was responsible for the theft or not.
4) National Insurance Company Ltd. vs. Parvathneni: This case involved a claim for compensation under a motor vehicle insurance policy. The court held that the insurer was liable to indemnify the insured for the loss suffered due to a motor vehicle accident, despite the fact that the insured did not possess a valid driving license at the time of the accident.
5) United India Insurance Co. Ltd. vs. Ajay Sinha: This case focused on the interpretation of an exclusion clause in a health insurance policy. The court ruled that the exclusion clause, which denied coverage for pre-existing diseases, was valid and enforceable. It emphasized the importance of carefully reviewing and understanding the terms and conditions of an insurance policy to determine the extent of indemnity coverage.