INSPENONLINE: Pay Rs 7,000 for rejecting claim, consumer court tells insurance firm

Saturday, 1 February 2014

Pay Rs 7,000 for rejecting claim, consumer court tells insurance firm

A Central Mumbai consumer disputes redressal forum on Friday directed New India Assurance Company Ltd to pay Rs 7,000 as compensation for mental agony to a medical policy holder, Bugwadia Phiroj.

Phiroj, a senior citizen, was admitted to a hospital in 2012 for a urinary tract infection. After discharge, he sent the bills for claim but despite follow-ups, the authorized TPA, Vipul Medcorp, and K U Sampath, the development officer at New India Assurance, did not revert till January 2013. Phiroj was told the file had been dumped in the godown without processing and a discharge voucher for Rs 41,000 was sent by courier.

Bugwadia said there were deductions in the money and demanded Rs 63,000. The forum found that despite having paid his premiums in time and filing a proper claim with verified bills, his claim was wrongly denied causing him "mental agony" for which he must be compensated.

The forum ordered New India Assurance and TPA to pay Rs 63,000 with interest of 9% per annum from September 2013 and Rs 5,000 as costs in a month.

The Times of India

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Lawal is Inspen 2014 insurance man of the year

The former President Chartered Insurance Institute of Nigeria (CIIN) Fatai Lawal has emerged the 2014 Inspenonline Insurance Man of the year.

Fatai who is the the Managing Director Sterling Assurance Nigeria Limited was named today, at the Nigerian Insurance and Pension Award organised by Inspenonline.

Chief Executive Officer Inspenonline Media, Chuks Udo Okonta, said Lawal was picked from the votes casted by the public and other considerations made by the award's panel of assessors.

He noted that the winner raised the bar at the the Institute and the industry by opting to serve a tenure which was eventful and impactful. He added that amongst the legacies left by the winner was the printing and donation of Insurance books to secondary and tertiary institutions aimed at deepening insurance awareness.

Okonta noted that the award, which started two years ago with the recognition of two distinguished individuals and an underwriting company, has now come to stay.

"This year, we decided to raise the bar by setting high standards to judge the operations of companies and impacts made by individuals in moving insurance and pension business forward.

"To achieve this, we gave the public the opportunity to select those to be celebrated by calling for votes. Having harmonised the votes which came from different parts of the country, we benchmarked the scores with the set standard to arrive at the winners we are celebrating today," he said.

Others winners are AIICO Insurance Plc, Insurance company of the year; FUG Pensions Limited, Pension Fund Administrator of the Year; YOA Insurance Brokers Limited and Glanvill Enthoven Insurance Brokers Limited, Insurance Broker of the year.

Professional Excellence Award went to Professor Joe Irukwu; Best Professional Group went to the Chartered Insurance Institute of Nigeria and Association of Registered Insurance Agents of Nigeria; Corporate Brand went to Mansard Insurance Plc and Leadway Assurance Limited while Corporate Social Responsibility Award was won by Sovereign Trust Insurance Plc.

The organisers also recognised organisations that distinguished themselves, with Excellence Award. Organisations in this category include the National Pension Commission, Lagos State Pension Commission, Goldlink Insurance Plc and Pension Transition Administration Directorate.

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