STANDING COMMITTEE ON FINANCE(2023-2024) SEVENTEENTH LOK SABHAMINISTRY OF FINANCE(DEPARTMENT OF FINANCIAL SERVICES) PERFORMANCE REVIEW AND REGULATION OF INSURANCE SECTOR SIXTY SIXTH REPORT
Sixty-Sixth Report of the Standing Committee on Finance (17th Lok Sabha) on Performance Review and Regulation of Insurance Sector ...
India: Supreme Court Judgement: SBI General Insurance Co. Ltd. Versus Krish Spinning( Civil Appeal No 7821 OF 2024 (Arising out of OF SLP (C) NO. 3792 OF 2024) (18th July, 2024) – Arbitration Issue
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 voucher towards the full and final settlement between the ...
USA: D&O Coverage denied for $118 Million DOJ Settlement Because of Professional Services Exclusion – Opinion of COURT OF APPEAL OF THE STATE OF CALIFORNIA, FIRST APPELLATE DISTRICT, DIVISION TWO
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 etc. Takeaways: 1. Informed decision-making helps. Anticipating Coverage Requirements and understanding what is available under various ...
India: Supreme Court Judgement: M/S Modern Insulators Ltd vs The Oriental Insurance Co. Ltd (Civil Appeal No.-006895-006895 – 1997) (22 February, 2000) – When insurer does not disclose any exclusion to the insured, it cannot enforce the same in the event of a claim.
“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. The insured has a duty to ...
India: Supreme Court judgement: United India Insurance Co. Ltd. Versus M/s Hyundai Engineering & Construction Co. Ltd. & Ors. – Civil Appeal No. 1496 OF 2023(May 16,2024)
“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 be asked to cover a loss that is ...
