Tag
Insurance
60 articles
Insurance companies are facing increased scrutiny and legal challenges across various courts. The Supreme Court is actively reviewing appeals and petitions related to compensation awards, tax assessments, and delays in filing, impacting insurers like Cholamandalam, Oriental, and New India Assurance. Additionally, ICICI Life Insurance experienced a leadership change with the resignation of its MD & CEO, Anup Bagchi, and the appointment of Sidharatha Mishra. These developments highlight the ongoing complexities of legal proceedings and regulatory oversight within the insurance sector, potentially influencing profitability and operational efficiency for these firms as they navigate these challenges and adapt to evolving legal precedents.
Shri Ram Insurance Pays Compensation to Rasina
Court ordered release of awarded compensation amount with up-to-date interest to Rasina (respondent No.1) under Section 151 CPC.
Judgment previously passed by the Court is final; no appeal filed, and
Supreme Court Lists Durga Roadways Insurance Applications
Supreme Court heard Misc Application No. 2829/2026 between Durga Roadways Private Ltd and Oriental India Insurance Ltd on 1 Oct 2026.
Respondent counsel noted another related Misc Application Diary No
Supreme Court Dismisses SLPs Against Cholamandalam Insurance
The Supreme Court heard Special Leave Petitions filed by the Income Tax Commissioner against Cholamandalam MS General Insurance Co. Ltd.
The Court noted inordinate delays of 449 days and 427 days in f
Supreme Court Condones Delay, Reviews Prosthetic Compensation
Supreme Court heard SLP No.58135/2026 filed by Rajkumar against IFFCO Tokio General Insurance Ltd.
Justices Dipankar Datta and Sheel Nagu condoned the filing delay in the petition.
Court ordered issua
New India Insurance Appeal Dismissed by Default
The Uttarakhand High Court dismissed the appeal (AO No. 463/2016) filed by Sabir Hussain & Another due to default.
No legal representation was made for the appellants, even after a revised call, as no
Karnataka HC Condones 169-Day Appeal Delay
The Karnataka High Court, on 1 Oct 2026, condoned a 169‑day delay in filing IA No.1/2025 under Section 5 of the Limitation Act.
The appeal was filed by Sri Gangaraja and another against Kotak Mahindra
Barla Compensation Revised to Rs 80.94 Lakh
The High Court of Chhattisgarh heard two MAC appeals concerning the death compensation of Late Anup Kumar Barla, originally Rs 84.62 Lakh.
The insurer argued for statutory income‑tax deduction, while
High Court Raises Compensation to Rs 22.95 Lakh
Appeal under Motor Vehicles Act challenges Claims Tribunal award of Rs 22.76 lakh for death of Ameer Khan in 2021 accident.
Court upheld tribunal's income assessment of Rs 9,200 per month but increase
Oriental Insurance Liability, Awards Up to Rs 9.9 mn
High Court and Supreme Court reviewed 79 appeals stemming from the 2012 Himachal bus crash that killed 53 people.
The courts affirmed Oriental Insurance’s liability for the 42‑44 covered passengers an
ICICI Life CEO Resignation, New MD & CEO Appointed
ICICI Life Insurance MD & CEO Anup Bagchi resigns effective October 13, 2026 to pursue external career opportunity.
Sidharatha Mishra appointed as Chief Operating Officer from October 6, 2026 and as M
ICICI Life CEO Anup Bagchi Resigns, Sidharatha Mishra Appointed
Anup Bagchi resigned as MD & CEO of ICICI Life effective October 13, 2026 to pursue a new career opportunity outside the organization.
Sidharatha Mishra appointed as Chief Operating Officer effective
Bajaj Allianz Gets Two-Week Extension (Supreme Court)
Supreme Court heard Special Leave Petition No. 57470/2024 filed by Sanjay Soni against Bajaj Allianz General Insurance.
The petition challenges a prior judgment dated 01‑11‑2017 from the High Court of
SC Adjourns Income Tax Suit vs Cholamanadlam General Insurance
Supreme Court heard SLP (Civil) 39695/2026 on 1 Oct 2026 between Income Tax Deputy Commissioner and Cholamanadlam General Insurance.
The petition challenges a High Court judgment dated 16‑04‑2025 conc
Supreme Court Adjourns United India Insurance Appeal
Supreme Court heard petitions for special leave to appeal (Nos.13358‑13359/2026) filed by Anand Kumar Singh against United India Insurance Co. Ltd.
The matter was adjourned due to time constraints, wi
Mad... vs HDFC Insurance: Condonation Order Issued
Supreme Court heard SLP No. 49545/2026 filed by Madan Singh Paraste against HDFC General Ergo Insurance on 30‑09‑2026.
Petition seeks condonation of delay in filing IA No. 282390/2026 and exemption fr
Supreme Court Condones Delay in Oriental Insurance Case
Supreme Court heard SLP No. 24977/2026 filed by Sambhaji against Oriental Insurance Co. Ltd on 30 Sep 2026.
The bench of Justices Satish Chandra Sharma and Nongmeikapam Kotiswar Singh ordered condonat
New India Assurance Review Dismissed by SC
Supreme Court dismissed New India Assurance's review petition against its March 16, 2026 judgment in Civil Appeals 5492‑5493.
Delay in filing was condoned, but the petitioner's request for oral hearin
Supreme Court Dismisses Oriental Insurance Review Petition
Supreme Court rejected Oriental Insurance’s application to list its review petition in open court on September 29, 2026.
The Court found no grounds to review the April 30, 2026 order dismissing SLP (C
Satia Industries Appeal Admitted, Dec 2026 Hearing
Supreme Court admitted Satia Industries Ltd’s civil appeal against United India Insurance Co. Ltd. (Head Office & Ors.) on 30‑Sep‑2026.
The bench comprised Justice Sanjay Kumar and Justice Sanjeev Sac
Deekshith Appeals SC Order vs Sri Ram
Petition for Special Leave to Appeal filed by Deekshith against Sri Ram General Insurance Company, arising from High Court judgment dated 21‑01‑2026.
Supreme Court hearing held on 01‑10‑2026 before Ju
Star Health SLP Dismissed by Supreme Court
Supreme Court of India heard SLP (Civil) filed by Star Health and Allied Insurance Co. Ltd against Rajasthan High Court order dated 15‑04‑2026.
Court condoned a 59‑day filing delay and, after hearing
Shriram General Insurance Delay Condoned, Stay Granted
Supreme Court condoned filing delay in IA No. 294346/2026 for Shriram General Insurance Ltd. against Sandipbhai Gohil & others.
Court ordered issuance of notice, returnable within four weeks, and stay
Supreme Court Sets Rs 14 Lakh Compensation
Supreme Court partially allowed appeal, raising compensation to Rs 14 lakh with 6% interest from claim filing date.
Settlement reached with Oriental Insurance Co. Ltd; payment to be made within six we
Bajaj General Insurance SLP Hearing Oct 14
Supreme Court heard petition for special leave to appeal by Bajaj General Insurance Ltd against State of Maharashtra judgment dated 24‑Nov‑2025.
The matter originated from High Court of Bombay at Aura
Supreme Court Lists United India Insurance Appeal
Petition for special leave to appeal filed by Jagynaseni Naik vs United India Insurance Co. Ltd.
Supreme Court heard the matter on 29‑09‑2026 before Justices K.V. Viswanathan and Arun Palli.
Court ord
Court Issues Notice in HDFC Life Appeal
Petitioner Jyothi Madhavan U filed Leave to Appeal (No. 33147/2026) challenging the Kerala High Court’s 17‑Aug‑2026 judgment against HDFC Life Insurance Company Ltd.
During the 29‑Sep‑2026 hearing, th
National Insurance Co Settles Rs5 Lakh Claim
The Supreme Court Special Lok Adalat disposed Special Leave Petition No.27253 of 2024 after parties reached settlement.
National Insurance Company Limited agreed to pay a lump‑sum of Rs 5,00,000 to pe
United India Insurance Pays Rs 6.5 Lakh Settlement
The Special Lok Adalat settled SLPC No.29499 (2024) between petitioner Pradeep Patil and United India Insurance, ordering a Rs 6.5 lakh lump‑sum payment.
Respondent agreed to pay within six weeks upon
IFFCO Tokio Settles Rs5 Lakh Lok Adalat
The Supreme Court Special Lok Adalat disposed Special Leave Petition No.21719 of 2023 after parties reached settlement.
Respondent IFFCO Tokio Insurance Co. Ltd. agreed to pay a lump‑sum of Rs 5,00,00
TATA AIG to Pay Rs.3.5 Lakh Settlement
The Supreme Court Special Lok Adalat disposed Special Leave Petition No.17792/2024 after the parties mutually reached a settlement.
TATA AIG General Insurance Company (respondent No.3) agreed to pay t
Bajaj Alliance Insurance Pays Rs 2.5M Settlement
Supreme Court Special Lok Adalat resolved Special Leave Petition 17256 of 2024, settling dispute between petitioner SETTU and Bajaj Alliance General Insurance.
Respondent agreed to pay additional lump
Oriental Insurance Settles Claim for Rs 20.5 Lakh
Supreme Court Special Lok Adalat resolved the dispute between Oriental Insurance Company Ltd and Bhagwan Singh Rawat et al.
Oriental Insurance agreed to pay a lump‑sum settlement of Rs 20,50,000 to th
New India Insurance Agrees Rs 12 Lakh Settlement
The Supreme Court Special Lok Adalat disposed Special Leave Petition No.6885 of 2024 after parties reached settlement.
Respondent No.2, New India Insurance, agreed to pay a lump‑sum of Rs 12,00,000 to
Oriental Insurance Ltd Pays Rs 8 Lakh Settlement
The Supreme Court Special Lok Adalat disposed of SLPs 21426‑21427 (2023) after parties reached settlement.
Oriental Insurance Company Ltd agreed to pay a lump‑sum of Rs 8,00,000, exceeding the High Co
Oriental Insurance Agrees Rs5 Lakh Settlement
Supreme Court Special Lok Adalat disposed Special Leave Petition No.1127/2024 after petitioner Shiv Kali @ Bharti and respondents reached settlement.
Oriental Insurance Company Ltd agreed to pay addit
GIC Appoints Joint Statutory Auditors for FY27
GIC's Board approved the appointment and remuneration of two new Joint Statutory Auditors for FY 2026-27, as appointed by the C&AG.
The new auditors are M/s S H B A & CO LLP and M/s S A R A & Associat
New India Assurance Appeal Withdrawn, Fee Refunded
Bombay High Court dismissed First Appeal No.2050 of 2007 filed by The New India Assurance Co. Ltd. after the appellant withdrew it.
The court ordered refund of the court fee and transfer of the deposi
New India Assurance Pays Rs 14 Lakh
The Calcutta High Court modified the Motor Accident Claim award, reducing compensation from Rs 16.35 million to Rs 14 million for the widow and children.
The insurer, New India Assurance Co. Ltd, was
IndusInd General Insurance Granted One-Week Extension
Supreme Court Registrar heard IndusInd General Insurance's petitions for special leave to appeal on 1 Oct 2026, directing compliance steps.
Petitioner's counsel submitted a cheque instead of a demand
New India Assurance Appoints Three New KMPs
The New India Assurance Company appointed three Key Managerial Personnel effective October 1, 2026.
Anjali Mirchandani appointed as Chief Risk Officer with extensive insurance industry experience sinc
ICICI Lombard GST Appeal Partially Allowed
ICICI Lombard received appellate order partially allowing its GST appeal, reducing original demand.
Revised GST demand set at ₹3.34 lakh with ₹97,751 penalty for July 2017-March 2020 period.
Company p
Gopal Snacks Receives ₹363.98M Final Insurance Claim
Gopal Snacks Ltd receives final insurance approval for ₹363.98 million as full settlement for December 2024 factory fire.
Total fire claim receipts reach ₹774.27 million, including interim payments an
Oriental Insurance SL Petition Dismissed
• Supreme Court heard Special Leave Petition (Civil) No. 53056/2026 filed by Oriental Insurance Company Limited against Suresh Ramchand Sawlani & others.
• The bench of Justices Prashant Kumar Mishra
SC Dismisses SLP Against New India Assurance
Court dismissed SLP No.33572/2026 filed by Mithai Lal & Anr. against New India Assurance Co. Ltd., upholding High Court judgment dated 01‑07‑2026.
The order was delivered on 30‑09‑2026 by a two‑judge
National Insurance Co. Decree Stay, Deposit Order
Supreme Court condoned filing delay in the Special Leave Petition and ordered notice returnable by 17 Nov 2026.
Court stayed execution of money decree, requiring National Insurance Co. to deposit the
Supreme Court Dismisses SLA, Condones Delay
The Supreme Court heard Special Leave Petition No. 34908/2026 filed by Tha Tulsi Das Ramjibhai against New India Assurance Company Ltd.
Justices Aravind Kumar and Vipul M. Pancholi ordered condonation
Oriental Insurance SLP Dismissed, Delay Condoned
Supreme Court condoned filing delay in Special Leave Petition 56237/2026 filed by The Oriental Insurance Co. Ltd against Nirmal Kaur and others.
Court declined to interfere with Court's May 7, 2026 ju
Sammaan Capital LIC Nominee Director Change
Sammaan Capital appoints Mr. P. S. Negi as LIC Nominee Director effective September 30, 2026, replacing Mr. Rajiv Gupta.
The appointment was approved by the Board based on Nomination and Remuneration
National Insurance Appeal Dismissed, Rs 7.9L Upheld
The Calcutta High Court dismissed National Insurance Co.'s appeal against a Motor Accident Claim Tribunal award of Rs 7.90 million plus interest.
The Tribunal had awarded compensation for a 2011 motor
New India Insurance Compensation Enhanced to Rs 7.95 Lakh
High Court of Uttarakhand allowed appeal, enhancing compensation for deceased's family from Rs 4.52 Lakh to Rs 7.94 Lakh.
Court revised deduction for personal expenses to one‑fourth, added 40% future
National Insurance SLP Dismissed by Supreme Court
Supreme Court heard Special Leave Petition filed by National Insurance Company Ltd against High Court judgments dated 16‑03‑2026.
Court condoned delay in filing the petition but declined to entertain
Bajaj Allianz Ordered to Pay Rs150k Settlement
The Orissa High Court set aside the Motor Accident Claims Tribunal’s Rs115,000 award and approved a Rs150,000 settlement to the claimant.
The insurer, Bajaj Allianz General Insurance, failed to provid
National Insurance Compensation Doubled to Rs 53 Lakh
Court ruled claim survives claimant’s death under Motor Vehicles Act s.166(5), allowing father to continue proceedings.
Court found tribunal’s award of Rs 27.22 lakh inadequate and ordered revised co
Jio Financial Services Invests ₹320 Crore in JV
Jio Financial Services invested ₹320.05 crore in its 50:50 insurance JV with Allianz via a rights issue.
The investment increases Jio's total investment in Jio Allianz General Insurance to ₹375 crore.
DAHD Launches Multilingual Livestock Insurance Portal
Department of Animal Husbandry & Dairying launches digital Livestock Insurance Portal on September 28, 2026.
Portal offers insurance services in 11 regional languages plus Hindi and English for wider
LIC Post-OFS Promoter Holding at 90%
Life Insurance Corporation of India discloses its shareholding pattern following an Offer For Sale (OFS) as per regulatory requirements.
The President of India, acting as promoter, holds 11,384,912,00
Star Health Nine Promoter Group Entities Seek Reclassification
Star Health received requests from nine promoter group entities to be reclassified as public shareholders under SEBI LODR Regulation 31A.
All nine entities, formerly linked to late Rakesh Jhunjhunwala
LIC Promoter Sells 2.5% Stake via OFS for ₹31,552 Cr
President of India, as LIC's promoter, sold 316.25 crore shares (2.5% stake) via OFS on Aug 4-5, 2026, generating approx. ₹31,552.34 crore gross consideration.
The OFS included an oversubscription opt
LIC OFS: Government Exercises 6.5% Stake Sale Option
Government of India exercises oversubscription option to sell 6.5% stake in LIC via OFS.
Offer comprises 82.22 crore shares with 10% reserved for retail investors on August 5.
Retail investors and emp
LIC OFS: Government Selling 2.5-6.5% Stake
Government of India announces Offer for Sale of up to 6.5% stake in Life Insurance Corporation of India to achieve minimum public shareholding.
Base offer size is 31.62 crore shares (2.5%) with an ove