The record
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- The Supreme Court has ruled that Oriental Insurance Company must pay ₹32.67 lakh in compensation for a 2011 motor accident in Nepal that killed three people, rejecting the insurer's argument that its policy did not cover accidents outside India.
- The court held that insurers must clearly state any exclusions in their policies and that ambiguous language should be interpreted in favour of the policyholder under the Motor Vehicles Act.
- It criticised the poor quality of reasoning in Motor Accident Claims Tribunal orders, saying this delays compensation claims and increases appeals.
- The court also noted there is no clear regulatory framework on cross-border insurance coverage and advised IRDAI to consider a master circular standardising such clauses.
What to watch next
- Oriental Insurance Company must deposit the claim amount within four weeks
- Whether IRDAI issues a master circular standardising cross-border coverage clauses in motor insurance policies
- Whether policies begin expressly stating exclusions and endorsement requirements for inter-country travel
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Named in · Nepal · Harish Yadav · Oriental Insurance Company · Riaz Khan · Chhattisgarh High Court · India · Insurance Regulatory and Development Authority of India · Motor Accident Claims Tribunal · N Kotiswar Singh · Sanjay Karol · Supreme Court of India
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