news details |
|
|
| SC to hear insurance coys' petition today | | HC direction on interim relief to flood victims | | Early Times Report
Srinagar, Oct 9 : The Supreme Court of India has posted for hearing tomorrow a Special Leave Petition filed by Insurance Companies against orders by Jammu and Kashmir High Court on interim relief to the flood-affected shopkeepers and others in the state.
"List the matter on 10.10.2014 before an appropriate Bench, if in order in all respects," said a bench of Supreme Court comprising Chief Justice H.L. Dattu, Justice S.A. BOBDE and Justice Abhay Manohar Sapre.
A division bench of the High Court had directed the insurance companies to pay 50 percent of insured amount for policies above Rs 25 lakh and 95 percent for policies below Rs 25 lakh as the relief.
In the backdrop of flood devastation, the High Court last week held that the release of 50 per cent of insured amount in respect of policies above Rs 25 lakh cannot be termed as excessive.
"The cap of 50 percent by no stretch of imagination could be recorded as excessive," the court had ruled in its order on a Public Interest Litigation seeking directions for rehabilitation of flood victims of the State.
"It is not only the total destruction of the stock which may give cause to the insured to make a claim, the compensation may stem from many other heads like loss of earnings during the period of floods in case of shopkeepers policy, displacement of house owner by staying in rental accommodation and hiring of vehicle in case of motor vehicle destruction," the bench had said.
Ruling out the contention of the insurance companies with regard to payment of 50 percent relief in polices where the insured amount is higher than Rs 25 lakh, the court said the amount is not excessive and "it has been made subject to an undertaking by either side to make up the deficiency at the time of settlement." "This would also apply to the cases of total destruction of houses, properties and motor vehicles," the court had said. |
|
|
|
|
|
|
|
|
|
|
|
|
| |
| |
|
|
|
|
 |
|
|
