The National Consumer Disputes Redressal Commission, presided by AVM J. Rajendra, held that IDBI Federal Life Insurance liable for deficiency in service due to denial of revival of the policy even.
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The National Consumer Disputes Redressal Commission, presided by AVM J. Rajendra, held that the National Commission can only intervene in cases if it finds that the State Commission has acted.
Upholding an order passed by the state commission for deficiency in service, the national consumer disputes redressal commission (NCDRC) directed Life Insurance Corporation of India (LIC) to pay Rs1.50 lakh for damages and Rs21,000 for appeal expenses to a consumer. In this case, LIC agent had changed the policy amount, plan, tenure and premium period.
The Commission concluded that the bank officials had evidently been negligent in failing to compare the signature prior to making payment, notes Jehangir B Gai.