An Unilateral Exclusion Clause in Insurance Contract is Void since inception
Last updated: 10 November 2022
Court :
Supreme Court of India
Brief :
Non-compliance of Clauses (3) and (4) of the IRDA Regulation, 2002 precededby unilateral inclusion, and thereafter followed by the execution of the contract,receiving benefits, and repudiation after knowing that it was entered into for aknown fact to the insurance company, would certainly be an act of unfair trade practice. This view isfortified by the finding that the exclusion clause is an unfair term, going againstthe very object of the contract, making it otherwise un-executable from its inception.
Citation :
CIVIL APPEAL NO. 8249 OF 2022 [Arising out of SLP (Civil) No. 25457 of 2019]
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FCS Deepak Pratap Singh
Published in Corporate Law
Views : 286
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