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'IRDA CAN APPOINT SURVEYOR TO DECIDE QUANTUM OF DAMAGES' (Court rejects plea of New India Assurance Company).

India Business Insight

| May 31, 2010 | COPYRIGHT 2001 Silverline Information Systems Pvt. Ltd. (Hide copyright information)Copyright

The Delhi High Court has stated that a person can approach the Insurance Regulatory and Development Authority (IRDA) seeking compensation for the loss suffered and it is empowered to appoint surveyors for assessing the quantum of damages.

Rejecting the plea of New India Assurance Company that the IRDA had no jurisdiction to entertain petition …

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