Insurers can’t repudiate contract if exclusion clauses are not disclosed to insured as per IRDA regulations: Supreme Court.
The Supreme Court, on Wednesday, cautioned all insurance companies that if they do not mandatorily comply with Clause (3) and (4) of the Regulatory and Development Authority ( Protection of Policy Holder’s Interests, Regulations 2002) Act (IRDA Regulation 2002) then their right to repudiate insurance contract taking recourse to any terms and conditions, including the […]