Insurance (Amendment) Act, 1968

Sri Venkateswara Syndicate, a cotton trading partnership, suffered an accidental fire in its godown and claimed Rs.1.90 crore under its fire insurance policies with Oriental Insurance Company Ltd. The insurer appointed a series of surveyors – a licensed surveyor, joint surveyors, a second surveyor, and finally a charte…

The rice mill suffered a boiler collapse after a lorry allegedly collided with it, and the insurer, New India Assurance, repudiated the claim, citing overload as the cause. The insurer appointed a preliminary surveyor, a structural expert, an investigator, and a final IRDA‑licensed surveyor, all of whom concluded the c…

Luxra Enterprises (the complainant) insured its garment factory against fire for Rs 85 lakh. After a fire on 12‑07‑2000 it claimed the loss. The insurer’s head office appointed a first surveyor who accepted a loss of Rs 54,93,865. The insurer later appointed a second surveyor who reduced the loss to Rs 24,76,585 and su…