Vehicle Insurance Policy - Gbic.co.in

vehicle was sold to complainant Mr. Deepak. These Transfers were not recorded in thepolicy. The supreme court held that the transfere does not follow the procedure undersec. 157 to intimate and get the policy transferred is not entitled to claim. Further the14 days is not applicable in this case, since the interest of Mr. Saheesh Kumar and Mr.Ashok was not recorded under the policy. Under these circumstances, this Forum couldnot find fault with the insurer.Chennai Ombudsman CentreCase No. IO (CHN) / 11.03.1004 / 2005 - 06Dr. S. BalkrishnanVsThe New India Assurance Co. Ltd.Award Dated 24.6.2005Dr. S. Balkrishnan insured his vehicle TSH 0303 - 1987 model with The New IndiaAssurance Company Ltd., Chennai for the period from 1.4.2003 to 31.3.2004 andenjoying No Claim bonus of 65 % The vehicle was sold on 29.8.2003. He purchased anew vehicle and insured the same with National Insurance Co. Ltd., New Delhi from29.9.2003 to 28.9.2004. The National Insurance Co. Ltd., has allowed the NCB onprorata from 31.3.2004 to 28.9.2004 on the basis of NCB certificate issued by previousinsurer The New India Assurance Co. Ltd., The Insured has represented to allow theNCB for the whole policy period from 29.9.2003 to 28.9.2004. The Insured admittedthat he submitted the confirmation certificate of NCB 65 % from New India and he didnot inform the insurer immediately about the sale and it is responsibility of the buyer toinform the insurer.The representative of National Insurance Co. Ltd., stated that 65 % NCB was allowedby them from 31.3.2004 as the previous Insurer confirmed that the insured wasenjoying NCB till 31.3.2004. The representative of New India Assurance Co. Ltd., hasstated that the sale of the vehicle was not intimated to them immediately and the samewas received by them only in April 2004 i.e. after the expiry of the policy, which meantthe NCB was continued to be enjoyed by the insured till that date 31.3.2004 and alsocontented that simultaneously 2 vehicles could not enjoy the NCB. New India has alsostated that if they were informed about the sale of the vehicle, they would haverecovered the NCB from the buyer.The documents submitted by the parties concerned were puchased and the forum hasobserved that the complainant has committed a mistake of non-intimation of sale of thevehicle to the insurer in time and the insured’s argument that he is not responsible forthe inaction on the part of the purchaser is not justifiable. Further the complainant failsto proves documentarily that the purchaser had covered the vehicle under a separatepolicy from the date of its sale. In the absence of the same this forum could not findfault with the insurer in disallowing the NCB for the period under dispute.Chennai Ombudsman CentreCase No. IO (CHN) / 11.05.1013 / 2005 - 06Shri S. RamachandranVsThe New India Assurance Co. Ltd.Award Dated 11.8.2005Mr. S. Ramachandran, Chennai has insured his TVS Champ 1999 Motel bearingRegistration No. T N 10 A 1164 under Motor Comprehensive Policy with The New IndiaAssurance Co. Ltd., Anna Nagar, Chennai under Policy No. 712900 / 31 / 01 / 15450