Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
IRDAI has introduced draft regulations that emphasize due process and proportional penalties for enforcement actions in the insurance sector. The new rules aim to enhance procedural fairness.
IRDAI plans to replace the three-year licensing system for insurance surveyors and loss assessors with a perpetual registration model, contingent on annual fee payments. This draft amendment aims to simplify compliance regulations.
The Calcutta High Court ruled that an ITR filed before a claimant's death substantiates earning capacity, and deducting personal expenses by 50% was deemed erroneous. Bajaj Allianz General Insurance has been ordered to pay enhanced compensation.
The Punjab and Haryana High Court has directed Tata AGI to pay an enhanced compensation of ₹3,78,000 to claimants. The ruling mandates the inclusion of income tax liability when assessing loss of dependency.
The Andhra Pradesh High Court has ruled that insurers cannot evade liability without evidence proving a lack of a valid driving license. The court also upheld compensation based on gross salary.
The Delhi High Court clarified that insurance companies cannot deny compensation for road accidents involving combined tractor-trolley units on grounds of separate insurance.
IRDAI has approved a Risk Based Capital framework aimed at enhancing solvency assessment in the insurance sector, aligning it with global standards.
The IRDAI has issued a warning to a broker for implementing shareholding changes without prior approval, highlighting the need for compliance with regulatory norms. Corrective measures and future commitments were considered in the ruling.
The Calcutta High Court directed Bajaj Allianz General Insurance Co. to pay enhanced compensation, asserting that prior income tax returns filed validate earning capacity contrary to personal expenses deductions.