Directive on liability for defective products
“From the foregoing, it is manifest that the claim of the appellant under the policy which had been repudiated on the grounds that the premises were not in the insured’s control and was therefore, void. Admitte...
“In this case, it is clear that as per Cash Credit Agreement, the primary responsibility of getting the insurance done was of the complainant company. The bank could, but was not bound, to take out the same on ...
Sixty-Sixth Report of the Standing Committee on Finance (17th Lok Sabha) on Performance Review and Regulation of Insurance Sector
The Hon’ble Supreme Court of India analysed exhaustively provisions of the Arbitration and Conciliation Act, 1996 in the context of three major issues for determination. Whether the execution of a discharge...
Companies offering professional services, particularly, IT/ITES companies should be cautious of any broad/ absolute exclusions like professional service exclusions, cyber exclusions, and pollutions exclusions e...
“It is the fundamental principle of insurance law that utmost good faith must be observed by the contracting parties and good fath forbids either party from non-disclosure of the lads which the parties known. T...
“Insurance is a contract of indemnification, being a contract for a specific purpose1, which is to cover defined losses2. The courts have to read the insurance contract strictly. Essentially, the insurer cannot...
Fighting Cyber Insurance Denials Over the “Human Factor”
“According to the third member, any one of the three activities referred to in Note 3 i.e. (i) labelling or relabelling, (ii) packing or repacking from bulk and retail packing and (iii) adoption of any other tr...