Complainant Arjun Kumar Singh filed this claim for Rs. 1,73,810/- with 18% interest since date of theft 09-10-14 with loss of Rs. 1 lac and compensation of Rs. 50,000/- and Rs. 20,000/- as litigation cost.
2 Case of the complainant is that he had taken a burglary policy from O.P. SBI General Insurance Co. Ltd. at the instance of O.P. SBI from where he took business loan for his shop M/S Rahul Trading at Chas, Bokaro.
On 09-10-14 a theft was committed in the godown of the complainant for which FIR, Chas P.S. Case No. 221/14 U/s 461/379 I.P.C. was lodged. The loss of stock was Rs. 1,73,810/-
On giving information, a surveyor was appointed by Insurance Co. It is further the case, Insurance Company informed on 30-12-2014 that he received final survey report and sent a discharge voucher for full and final settlement. Since the claim was settled only for Rs. 56,555/- only against claim of Rs. 1,73,810/- complainant did not sign the voucher and send the same to the insurance company as being not satisfactory. Due to this complainant, harassed mentally and loss of business profit.
Complainant send a legal notice which was replied and accepting the facts but denying the full settlement. This is deficiency in service and Insurance Co. is liable to pay with interest.
3 Complainant filed following documents for support:-
Anx-1- and 1/1- Copies of legal notice and reply.
Anx-2 and 2/1 Copies of discharge voucher and e-mails.
Anx-3 Copy of the F.I.R. + witness, complaint himself.
4 O.P. No.1 and 2 S.B.I. General Insurance Co. Ltd. appeared and filed W.S. O.P. has admitted the policy and incident of burglary but denied as being not interested for settlement. It is submitted that after submission of final survey report and assessment and evaluation of stolen articles, it was estimated loss of Rs 1,73,810 and thereafter arrived for final compensation of R.s 56,555/- as per terms and condition and it was offered to the complainant but it was refused. The detail of final assessment has been explained and as such the complaint is not maintainable and liable to be dismissed.
The following documents are filed in support:-
Anx-A- Copy of Policy with terms and condition.
Anx-B- Copy of final survey report.
O.P. relied on F.A. 673/07 of NCDRC M/s Krishna Enterprises Vs M/s Bajaj Alliance G.I. Co. Ltd. in support.
F I N D I N G S
5 We perused the compliant and we hold that complainant is a Consumer since paid premium for the Policy and Insurance Co. is service provider, the dispute is also a consumer dispute.
6 The crux of the dispute is that complainant has protested the final assessment of the surveyor which has been accepted by the O.P. Insurance Co.
The Policy was insured for two places for Rs. 6 Lac. One place is at the shop for sum for Rs 4,00,000/- on the ground floor and for store at 1st floor for Rs. 200,000/-. The surveyor was found on average basis stock of Rs. 7,04,485/- as against sum insured of Rs. 6,00,000/- and O.P. is entitled to assess loss of under insurance and it is marginal excess so the deduction amount should be 50% of 18,560= 9,280/-. Further the surveyor report to some extent, excess in respect of deduction of 10% for non submission of stock register/Books of accounts because the loss has been assessed on average basis. Hence, the deduction should be 5% only.
As regards policy deductible is concerned, it is mentioned in the policy itself as 5% of the claim amount subject to minimum of Rs. 50,000/- for each and every claim. The claim amount is 1,73,810/- and 5% of this will be Rs. 8690/- but the rider is 50,000/- as minimum deduction, which is against the natural justice, it should be whichever is less and therefore O.P. is only entitled to deduct Rs. 8,690/- only, not Rs. 50,000/-
At the end, the net amount payable to the complainant on settlement fo the claim should be:-
1 | Total claim- Rs | 1,73,810.00 |
2 | Less 10% rate variation | (-) 17,381.00 |
| | 1,56,429.00 |
3 | Less 5% non submission of record | (-) 7,821.00 |
| | 1,48,608.00 |
4 | Under Insurance 50% Rs. 18560 | (-) 9,280.00 |
| | 1,39,328.00 |
5 | Policy deductible 5% of sum insured | (-) 8,690.00 |
| | 1,30,638.00 |
7 Thus we, to extent agree with the complainant as he has challenged the way surveyor has assessed the loss of stolen articles and we agreed that assessment was less than what it should be in the Para referred above, and the complainant is entitled for loss of Rs. 1,30,638/- only.
8 In result we allow the part claim and O.P. S.B.I Insurance is directed to pay Rs. 1,30,638/-(One lac thirty thousand six hundred thirty eight only) to the complainant with interest of 8% since filing of this case i.e. 15-06-2015 till realization.
We further direct O.P. Insurance Co. to Pay Rs. 5,000/-(Five thousand only) as compensation for mental harassment and Rs. 2,000/-(Two Thousand Only) as litigation cost.
