Insurance and Consumer Protection Act
Insurance and Consumer Protection Act
Insurance and Consumer Protection Act
LIFE INSURANCE
SECTOR AND
CONSUMER PROTECTION
133
CHAPTER-VI
LIFE INSURANCE SECTOR AND CONSUMER PROTECTION
In the Present scenario, the insurance sector in India has come a full circle,
from being as open competitive market to complete nationalization and then back
to a liberalised market. The coming of private companies in the Indian insurance
market has changed the nature of competition and the vigorous campaigns of these
companies. This has led to rapid increase in insurance business and a sizeable gain
of this has also been reaped by life insurance Corporation of India (LIC)
Life insurance in its modern form came to us from Europe, the USA and
England where modern forms of life insurance appeared in the 16th century and the
first life policy providing temporary cover for a period of Twelve months was
issued as early as 1583 AD. As mortality tables had not yet been developed,
Writing of life business tended to be a gamble. It was therefore only from the 18th
century onwards that attempts were made to treat insurance scientifically1.
Initially, being in the hands of private enterprise, the Indian insurance
industry became the monopoly of the government over the last 44 years. The
sector consisted of the Life Insurance 'corporation of India (LIC) and the General
Insurance corporation of India (GIC) along with its four subsidiaries i.e. National
Insurance Company, New India Assurance Company, United India Insurance
Company and Oriental Insurance Company. These Public sector corporations
operated through a network of branches throughout the length and breadth of the
country2.
Under the impact of globalization the organization and structure of this
133
sector underwent a sea change. From State monopoly the insurance business was
opened to private enterprise. The structure of this sector thus, changed and
transformed into a joint sector where both the government undertakings and
private entities are conducting insurance business. In the government segment of
insurance sector, the existing corporations, viz. LIC and GIC with four
subsidiaries continue to operate3.
In the private segment of the Indian insurance there are about 24 private
insurance companies. These are world renowned players in Insurance business.
The multinational insurers are indeed keenly interested in emerging Insurance
business in India because their home markets are saturated. The foreign companies
are also attracted by the fact that, unlike many under developed countries, The
Indian private sector is well developed and has the capacity to face any challenges
posed by competition internally or externally.
population has no life insurance, pension cover or post retirement protection cover.
This shows this sector has great potential for growth as there is still a huge
untapped market. It is submitted that a well developed and consumer friendly
insurance sector is needed for economic development of the country as it provides
long term funds for infrastructure development and at the same time strengthens
the risk of taking ability.
The biggest challenge for the industry today is the low levels of penetration
and lack of consumer satisfaction. This challenge becomes bigger due to the
presence of host of other investment opportunities available to the consumer today
and due to the spending habits of the younger generation which believes in
consumption today rather than investing for tomorrow. To over come this more
marketing is required for insurance products. There is still a huge unexplored
potential of growth for the pension products. However, there has been a major
growth in the unit linked policies offered by the insurance sector which might be
seen as positive trend but what it reflects is that insurance is being looked upon as
investment instrument which underlines the true objective of insurance which is
risk protection. Insurance has a role to play, and that is as a tool to hedge against
risk, and it is crucial that this role be maintained even in the light of the changing
scenario.
It is submitted that insurance sector in India has come a long way from
being a nationalized to a liberalized market. And for its growth there is a dire need
to examine the key issues, trends and challenges so that India can match
international standards both in terms of market size and consumer satisfaction.
135
136
Therefore the question before us is that the craze for insurance cover has
become a must (necessity) or is just (optimal). There are two types of people in the
market, one are those who want that come what may, they would have satisfactory
insurance cover for their life, spouse, or any other thing like house, vehicle etc.
Whereas the other type feels that they are not much interested to have the
insurance cover. The choice differs and views differ from man to man. Some
people feel baffled over the ever increasing number of insurance companies
flooding the market with catalogue/hollow slogans.5
taken by fraud.
The burden to prove that the insured had given wrong answers, that is to
say, there was positive presence of existence of any ailment, sickness or injury
which may require medical attendance in immediate future, is on the insurer.10
Similarly, the fact whether he had taken any medical treatment or undergone
surgical operation within the period of preceding twelve months, is also on the
opposite party as held by the Supreme Court in the case of Life Insurance
Corporation of India v. Smt. G.M. Channabasamma.11
The insurance policy between the insurer and the insured represents a
contract between the parties. Since the insurer undertakes to compensate the loss
suffered by the insured on account of risks covered by the insurance policy, the
terms of the agreement have to be strictly construed to determine the extent of
liability of the insurer.12The insured cannot claim anything more than what is
covered by the insurance policy.13 If the contract is vague, the benefit should be
given to the insured.14 In a contract of insurance, there is a requirement of uberrima
fides, i.e., good faith on the part of the assured and the contract is likely to be
construed contra proferentem, i.e., against the company in case of ambiguity or
doubt.15 Thus, it is the high time for the insurance companies to have terms clearly
defined in the insurance policy with a reasonable clarity and not to continue with
the old forms which at times are vague.16
When the Life Insurance Corporation has failed to make payment to the
nominee, it has committed default in the performance of the undertaking in
pursuance of the contract of insurance and thus there is deficiency in relation to
139
service. When there is a delay in making the payment of claim under the insurance
policy, it amounts to deficiency in service.17 Similarly, non settlement of claim
under insurance policy within a reasonable period is a deficiency in service.18
Further, compensation may be awarded for mental agony for delay in settlement of
claim since the complainant is put to avoidable strain and tension.19
Notwithstanding the general ability of contracting parties to agree to
exclusion clauses which operate to define obligations there exists a rule, usually
referred to as the 'main purpose rule', which may limit the application of wide
exclusion clauses defining a promisers contractual obligations. For example, in
Glymn v. Margetson and Co., 20 Lord Halsbury L'C. stated that21-'1t seems to me
that in construing this document, which is a contract of carriage between the
parties, one must in the first instance look at the whole instrument and not at one
part of it only. Looking at the whole instrument, and seeing what one must regard
as its main purpose, one must reject words, indeed whole provisions, if they are
inconsistent with what one assumes to be the main purpose of the contract.'
In view of the above, the Supreme Court in B.V Nagaraju's case22 held that the
National Commission went for strict construction of the exclusion clause. The
reason that the extra passengers being carried in the goods' vehicle could not have
contributed, in any manner, to the occurring of the accident, was barely noticed
and rejected sans any plausible account; even when the claim confining the
damage to the vehicle only was limited in nature. The Court observed, 23
We thus, are of the view that in accord with Skandia's case, the aforesaid
exclusion term of the insurance policy must be read down so as to serve the main
140
purpose of the policy that is indemnify the damage caused to the vehicle, which we
hereby do.
'Insurance' serves the social purpose; it is a social device whereby
uncertain risks of individuals may be combined in a group and thus made more
certain; small periodic contribution by the individuals providing a fund out of
which those who suffer losses may be reimbursed.24 The silent promise, and
virtually the explicit condition of the insurance contract is that the insured's claim
must be settled with utmost expedition.25
The face amount on the policy is the initial amount that the policy will pay
at the death of the insured or when the policy matures, although the actual death
benefit can provide for greater or lesser than the face amount. The policy matures
when the insured dies or reaches a specified age (such as 100 years old).26
the cheapest type of life insurance, and is most commonly bought in the event of
sudden illness. The second type of life insurance is "investment-type life
insurance"; this includes "endowment policies" and "whole of life policies." This
type of life insurance, as well as paying out in the event of your death, generally
builds up in investment value which you can cash in on before you die; hence, the
earlier you buy life insurance, the greater the value which will accumulate during
your lifetime. Many personal pension schemes, including stakeholder schemes,
also count as investment-type life insurance.
When choosing life insurance, make sure your provider is authorised by the
Financial Services Authority (FSA); the FSA provides the stamp of approval
which tells you that the insurance provider is solvent and operated sensibly.
Furthermore, financial advisers handing out advice about investment-type life
insurance or personal pensions should also be authorised by the FSA; you can
check this by consulting the FSA Firm Check Service. Financial advisers must
either be tied - for example, selling products of a single provider - or independent,
meaning they can select life insurance for you from the full range of products in
the market.27
Life insurance and trusts are two financial arrangements that provide
security to the family and living relatives of the owner of a property or trust. One
should be made aware to look at insurance and trusts and how these can be used
for better financial security and risk management. "Financial risk management is
an important concept in the field of management. A person with an established
business, occupation or source of income can suddenly take ill, resulting in the loss
142
of that income which depended on him to generate. This can be a serious loss for
him and others who depend on the income. There are two financial instruments
which are available which can continue to provide to him or his dependents
financial compensation or income based on his previous investments. For
monetary investments which had been paid on regular intervals, there is the
instrument of life insurance.28
Risk
Risk
Identification Assessment
Risk
Treatment
Insurance
Risk
Event
Claim
Compensation
Insurer
(Macro Level)
Risk
Risk
Identification Assessment
Product
Development &
Training
Policy
Servicing
Survey
Settlement
143
It has been observed that Insurance Companies do not tell the demerits of
the policies while selling their Insurance products/Schemes. Therefore law
is to be made to make it mandatory on the part of insurer to disclose the
demerits of the policy.
2)
3)
The agents also do not provide customized service once their policy is sold
rather they adopt callous attitude towards the policy holders and they
become totally indifferent. So, Agents, be appointed by the companies, who
are persons of ability, integrity and standing.
144
4)
Companies hid many hidden charges and impose them immediately the
policy is sold. Law be made that all charges be disclosed at the time of sale
of policy.
5)
6)
Many agents have been found to be charging excess from illiterate or less
informed people. Government must take suitable steps to save the policy
holder.
7)
8)
Lot many cases have been filed in consumer courts and many decisions has
gone against the insurance companies. There is quite an ample scope for the
consumers to make use of consumer forums to stop their exploitation by
these insurance companies. So more campaigns like Jago Grahak Jago
should be launched through electronic media and print media to bring
awareness among the people.
145
9)
Government should make laws fixing time schedules for payment of the
policy amount in the event of death / disability and even in general cases of
maturity of the policy.
6.8 (a)
AUTHORITY (IRDA)
Reforms in the insurance sector were initiated with the passage of the IRDA
Act, 1999. This act extends to the whole of India31. This act came into force on
19th April, 200032. The object of this act is to provide for the establishment of an
authority to protect the interests of holders of insurance policies, to regulate,
promote and ensure orderly growth of the insurance industry and for matters
connected therewith or incidental there to and further to amend the Insurance Act,
1938, the life Insurance Corporation Act, 1956 and the general insurance business
(nationalization) Act, 1972.
146
OBJECTIVES OF IRDA:
(a)
(b)
(c)
147
(d)
(e)
(f)
(g)
(h)
FUNCTIONS OF IRDA:
The IRDA has been established to perform the following regulatory
functions37:
(a)
(b)
(c)
(d)
148
(e)
(f)
6.8 (b)
of the insurance industry. This highlighted the need for comprehensive review of
the regulatory and supervisory environment under which private and public
insurers shall conduct the business. The law commission, therefore, at the request
of Insurance Regulatory and Development Authority initiated the exercise of
review of Insurance Act, 1938 and other related legislations to harmonise the
insurance laws in tune with the liberalized economic environment prevailing in the
economy in general and particularly in the context of the insurance industry.
6.8 (c)
149
in the regulations. The regulations require that each life insurer shall have an AA
as a full time employee. However, a relaxation has been made in case of Non-life
Insurance Companies. Every life insurer is required to submit the statement of
solvency, along with its actuary report and extract, as on 31st March of each
financial year, duly certified by the AA. In case of non-life insurer, the AA is
required to certify the rates for in house non-tariff products and incurred but not
reported (IBNR) results.
6.8 (d)
awareness about their rights has steadily been increasing amongst the public at
large. Insurers are also required to set up grievance cells and their performance is
monitored by them on a regular basis. Insurers have also opened "May I Help
You" and information facilitation counters. In addition such counters as Rahat
Yojana and Nidhi Melas are conducted to dispose of claims speedily. The public
sector companies have also not remained for behind and are fast gearing up to
these changes39.
It is submitted that speedy mechanism for redressal of the grievances of the
policy holders has been provided under the Consumer Protection Act, 1986. This
act provides three tier redressal systems. These are as such;
(i)
(ii)
150
(iii)
complaints against insurers of life policies upto 20 lakhs, above 20 lakh and upto
one crore, and above one crore respectively.
consumer got and what he expected or deserved. Being a consumer is tough but we
151
cant help being one, Consumers help the economy grow: growing economy offers
new products and services from unheard of places, all claiming to be the best. As
markets are globalizing, consumers are bombarded with too many choices of
products and services. As a consumer we need to separate the chaff from the
grains. There is a risk of being cheated, when we spend our hard earned money to
get such quality products or services. Thus a balance has to be made between free
market forces and consumer protection. Any consumer movement can be
successful if the consumers are satisfied & they receive value for the money they
spent on products & services43. This in turn requires a synergy and support of the
Government, Judiciary, Traders and Consumers. As a matter of fact, access to
justice so far, has been a luxury for most of the Indian Citizens. However with the
enactment of consumer protection Act 1986, the era of socio-economic justice
appears to have finally dawned in India. India has gone a long way by
implementing the benevolent Consumer Protection Act, 1986 and further making
some amendments therein in order to provide better protection of consumer. The
near successful implementation of act has considerably consolidated the process of
consumer protection in India and has given rise to new consumer jurisprudence.
The unique three tiers, quasi- judicial machinery and speedy consumer disputes
redressal mechanism established under this Act have significantly increased the
prospects of dispensing consumer justice to a majority of people in the country.
The noticeable increase in self regulation, both by the public and private corporate
sector, a considerable spurt in consumer oriented litigation and the emergence of
environmental mitigation before the consumer forums are among the prominent
152
developments which seem to have been propelled by the implantation of the act.
An aware consumer, who exercises his/her rights, keeps a check on the
unscrupulous traders who sell fake and substandard products or on the advertisers
who engage in unfair trade practices. Thus, self help through empowered
consumers and better corporate governance are the need of the hour for a better
society. Services providers are virtually doing disservice to the people. It is felt
that the service providers have done lot of harm to the consumer44.
ii) safety
iii) Information
v) Representation
vi) Redressal
153
iv) Choice
viii)
Healthy environment
On this basis, UNO in April 1985 adopted its guidelines for consumer protection.
This led to passage of Consumer Protection Act, 1986 in India.
Buys any goods for a consideration which has been paid or promised/partly
paid and partly promised or under any system of deferred payment and
include any user of such goods.
ii)
Hires or avails of any services for a consideration which has been paid or
premised or partly paid and partly promised and includes beneficiary of
services46.
services , retailers with regard to any product/service given to the consumer for
consideration47.
ii)
The goods bought by him or agreed to be bought suffer from any defect.
iii)
154
iv)
If the trader has charged any excess price as per existing rate or that written
on the packet/package.
v)
When goods hazardous to life rarely are being offered for sale to the public
in contravention of the provisions of any law48.
It is submitted that life insurance policy holder is consumer under the
Consumer Protection Act, 1986 and is entitled to seek redressal in consumer courts
established under the Consumer Protection Act. It is usually observed that
Insurance Companies do not tell the demerits of the policies while selling their
Insurance products/Schemes.. Those polices are sold under wrong or
misrepresentation of facts. The agents also do not provide customized service once
their policy is sold rather they adopt callous attitude towards the policy holders and
they become totally indifferent. They put many hidden charges and impose them
immediately the policy is sold. In case of prepayment cases, they impose penalty
about which they never tell to a customer. They display false picture before the
customer to woo him by making the picture very rosy. Many agents have been
found to be charging excess from illiterate or less informed people. When the
policy matures, they put temporary or fictitious obstacles to delay the payment.
Many times notices for periodical premiums are not sent by them with the
intention that let the policy lapse & then they would be helpless to entertain the
claim and the amount in the account is encroached upon by them & is not paid to
the policy holder. Lot many cases have been filed in consumer courts and many
decisions have gone against the insurance companies. There is quite an ample
scope for the consumers to make use of consumer forums to stop their exploitation
155
by these insurance companies. In case of Baldev Singh Malhi V/s New India
assurance co. Ltd & another, National Consumer Disputes Redressal
commission, New Delhi vide its order dated 25/10/2002 has given historical
decision in favor of the petitioner. The plea of the insurance company was that the
beneficiary had attempted suicide by taking poisonous substance as a result of
which all the benefits under the policy were not available to the nominees- District
Forum dismissed the complaint holding that the death was not accidental but a
suicidal case. State commission decided other wise and directed the insurance
company to pay to the complainant the benefit with 12% interest50.
As per news appearing in The Tribune dated 11/8/09, The District
Consumer Redressal forum, Chandigarh has directed Reliance General insurance
company and pay Rs. 2.8 lacs as insurance claim towards theft of a car which was
earlier denied by company on frivolous ground. Complaint was made to the forum
by Sh. N.C. Thakur, a resident of Mohali.
156
ii)
If the complaint is more than Rs. 20 Lakh & upto Rs One crore Consumer
Disputes Redressal Commission of the concerned State.
iii)
If the complaint is more than Rs. One crore National Consumer Disputes
Redressal Commission New Delhi51.
ii)
iii)
iv)
v)
vi)
Appeal against the order of District Consumer forum can be made before
State Commission.
ii)
Appeal against the order of State Commission can be made before the
National Commission.
iii)
available under the act & whether they are satisfied with their services or they have
any grievance. I have identified the clientele group from Patiala & Sangrur Distts
& have elicited their views on the following questions included in my
questionnaire:Sr. No.: Particulars of the questions posed
1.
2.
3.
4.
5.
Is it true that all the policy holders are satisfied with the services of the
people engaged in the business?
6.
7.
8.
When Life insurance contract is signed, and the policy is sold, whether the
terms of contracts are explained to the consumer?
9.
158
10.
11.
12.
While 74% people are aware in Sangrur district and 82% people in Patiala are
aware about the Consumer Protection Act, 1986. The numbers of people who
are unaware of the act are very nominal. It means people are aware that such
piece of legislation is there in which rights of consumes can be protected.
2.
68% persons in Patiala and 58% persons in Sangrur district are aware that
provision of consumer protection act 1986; applied to insurance services and
remaining are not aware. It shows that still awareness is required by the people
so that they may fight for their rights.
3.
36% people in Patiala and 24% persons in Sangrur are aware that insurance
sector is prone to deficiencies in services like other services. Majority of people
have lack of such knowledge and therefore they are taking the things as
presented by insurance agents to them. This is very serious matter and people
need knowledge of high order.
159
4.
Study also reveals that 34% people in Patiala and 36% people in Sangrur
strongly agree that insurance officials do not disclose negative points of the
insurance schemes or policies to the consumers while selling the same. It
means that credentials of insurance agents are not trustworthy and people
should not fall in their trap assuming what they say as definitely true, due to
cheating tactics adopted by agents. Consumers should themselves satisfy from
their own sources about the benefits and drawbacks of the policies.
5.
Only 20% people in Patiala and 22% people in Sangrur strongly agree that
policy holders are satisfied with the services of people engaged in insurance
business. While others have opposite views. It shows that services of
insurance agents leave much to be desired by the consumers.
6.
60% of people in Patiala and 64% in Sangrur strongly agree that notices for
payment of premium are received in variably from the insurance companies
by them. But a small fraction has negative view. It shows that all insurance
companies are not very prompt in sending the notices for payment of
premium.
7.
38% people in Patiala and 33% people in Sangrur agree that they receive
notices for premium after due date, but 62% in Patiala and 67% in Sangrur
say that they receive the notices, in time. In this regard law be passed that
notices be sent well in time.
8.
Only 12% of people in Patiala say that the terms of contract are explained to
them by the insurance agents and almost all consumers of sangrur district
say that these are not explained at all. It means policy holders are kept in
160
dark by the selling agents about the negative features of the policies which
is very much deceptive.
9.
10.
56% people in Patiala and 66% in Sangrur agree that claims for premature
payment in case of death or disability are not decided for many months by
insurance companies and payments are unduly delayed. However others
have the opposite views. It indicates that payments are not made promptly
in cases of death and disability.
11.
62% people in Patiala and 52% in Sangrur agree that final payment of the
policy is made without delay while others do not agree because their may
also be delay somewhere.
12.
76% people in Patiala and 64% in Sangrur agree that consumer forums
protect the interests of the consumers in the insurance sector and policy
holders should utilize these forums for redressal of their grievances.
SUGGESTIONS
1.
2.
The insurance companies should show genuine concern for the consumers if
they are really serious for their business failing which they will loose the
confidence of people.
161
3.
4.
5.
6.
Government should make laws fixing time schedules for payment of the
policy amount in the event of death / disability and even in general cases of
maturity of the policy.
7.
place among the people, it is all due to the Consumer Protection Act, 1986 as
amended from time to time. Of the entire gamut of laws dealing with the
protection of the consumer rights, the Consumer Protection Act (CPA), 1986 is
probably the most important and gives the consumer most comprehensive
protection against violation of his rights53.
(E)
OMBUDSMAN:
A new administrative body has been appointed by the Insurance Regulatory
and Development Authority in regard to the interest of the policy holders. The
insurance ombudsman is empowered to receive and consider complaints in respect
162
of personal lines of insurance from any person who has any grievance against an
insurer. The complaint has to be in writing, and addressed to the Jurisdictional
Ombudsman within whose territory, a branch or office of the insurer complained
against, is located. The complaint may relate to any grievance against insurer,
partial or total repudiation of claims. Insurer, dispute in regard to premium paid or
payable in terms of policy, dispute on the legal construction of the policy holders
in case such dispute relates to claims, delay in settlement of claims and non issue
of any insurance documents to customer after receive of payment. The limit of an
ombudsman's power is at present prescribed by IRDA at Rs. 20 lacs.54
(F)
sector players / Multi National Corporations (MCNs) are likely to mount pressure
for detariffing and making it an indispensable evil. Before liberalisation Indian
general insurance industry, the Tariff Advisory Committee (TAC), used to fix the
tariffs regarding the General Insurance Products. A tariff is merely schedule of
premium rates and policy terms and conditions applicable to risks in a class of
business. But in common parlance only those schedule of rates and terms which
are issued by a Central Authority and require compliance by all insurers, are called
tariffs.
Detariffing is the way to initiate the process of liberalisation. It helps the
insurers to develop range of products, as companies can have the independence to
set rates. Products can be differentiated need-based products for customers can be
walked out, insurers will offer products at competitive price, better customer
163
service will be made available, as a result, demand will increase and insurance
culture will develop among the customers benefiting the masses. The common
refrains both for and against detariffing as it is centered on the lack of sufficient
information, because of absence of data, inadequacy of data, absence of statistical
information and absence of scientific practice. The inference is that the general
insurance industry, with its current set of data, is not in a position to harness the
full potential of the Indian market to its advantages.
6.11 ACTS, RULES AND REGULATIONS REGULATING INSURANCE
COMPANIES.
It is essential to mention here that in India, for the smooth conducting of
insurance business and to regulate the conducts of insurance companies various
acts, rules and regulations have also been made. These are as such;
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
164
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
165
26.
27.
28.
The
Insurance
Regulatory and
30.
31.
32.
33.
34.
35.
36.
37.
166
38.
39.
40.
41.
42.
43.
44.
passed in India, yet the reality is that the Life Insurance Consumer is not fully
satisfied and life insurance companies are still exploiting and fleecing the
consumers. Hence, more consumer awareness and protection through legal way is
required.
167
REFERENCES
1.
2.
3.
Ibid, P. 94.
4.
5.
6.
7.
8.
Ibid.
9.
10.
11.
12.
Oriental Insurance Co. Ltd. V. Sony Cheriyan (1999) 6 SCC 451; see also
Oriental Insurance Co. Ltd. V. Samayanallur Primary Agricultural Coop.
Bank AIR 2000 SC 10; United India Insurance Co. Ltd. V. Harchand Rai
Chandan lal (2004) IV CPJ 15 (SC).
13.
Ibid.
14.
Murli Agro Products Ltd. V. Oriental Insurance Co. Ltd. (2005) I CPJ 1
(NCDRC).
168
15.
16.
Supra note 3.
17.
Bharat Kumar C. Patel v. United India Insurance Co. (1992) I CPR 224
(Guj. CDRC).
18.
19.
20.
21.
(1893) AC 355.
22.
(1996) II CPJ 28 (SC); see also Murli Agro P Products Ltd. V. Oriental
Insurance Co. Ltd. (2005) I CPJ 1 (NCDRC).
23.
Ibid., at 31.
24.
25.
Surinder Kaur v. Oriental Insurance Co. Ltd. (1994) I CPJ 179 (Haryana
CDRC).
26.
Supra note 7.
27.
28.
29.
169
30.
Ibid.
31.
32.
Vide S.O. 397 (E), dated 19th April, 2000 published in the Gazette of India,
Extra, Pt. II, Section 3 (ii), and dated 19th April, 2000.
33.
34.
35.
Section 5, Ibid.
36.
37.
Ibid.
38.
Ibis, p. 121.
39.
Ibid, p, 122.
40.
41.
42.
43.
44.
45.
46.
47.
Ibid.
48.
Ibid.
49.
170
50.
51.
52.
Ibid.
53.
Baldeep Singh and Dr. Rajeev Kansal, Emerging need for protection under
consumer protection act to the insurance customer: An overview ( An
empirical study of Patiala and sangrur distt.), M.D.U. Law Journal, Vol
XV., Part-II(A),2010.
54.
171