News From Press Insurance claim to be rejected if lapsed on premium not paid: SC

Insurance claim to be rejected if lapsed on premium not paid: SC

Source: Business Standard Nov 2, 2021

An insurance claim can be rejected if the policy has lapsed on account of non-payment of premium, said the Supreme Court which stressed that the terms of an insurance policy have to be strictly interpreted.

The apex court observation came while setting aside an order of the National Consumer Disputes Redressal Commission (NCDRC) that ordered additional compensation in a road accident case.

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