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CASE STUDY NATIONAL LOK ADALAT

THE INSURANCE TIMES

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September 2022

CASE STUDY

- Lata Shekhar lyer

CASE STUDY NATIONAL LOK ADALAT

FA No 1345/2015 in MACT Case 634/2002 at Pune

On an eventful day, 35 years ago, a meritorious and bright student, Mr. Aniruddha Dashrath Anand, having dreams of making it big in life, was travelling on a motorcycle with his friend. Due to incessant rain on that unfortunate day, the motorcycle driver lost control and Mr. Anand was pushed into a life of pain and suffering. He was in coma for 21 days after that. However, that was only the beginning of a life, that could have been adored with unending heights of greatness, but for the accident, was languishing in the nadir of despair, frustration and mental agony. In an attempt to ameliorate some of his suffering, we settled the matter at the High Court, Bombay in 2022, during the National Lok Adalat for an amount of Rs 43,50,000/- (32 lakhs plus accrued interest) towards the full and final settlement. This was the least we could do for the budding engineer the society lost on that day.

FA No 426/2015 in MACT Case 85/2013 at Satara

A teacher in a school, Mr. Bhaurao Bhangare, was busy in grooming the next generation of our society. However, all came to a halt on that fateful day of 14.01.2013, when he was dashed by a Jeep while crossing the road. His family lost the sole bread-earner at an age when he was just about to bloom into a fine human being, the caregiver for his wife, the doting father to his daughters, the last resort of his ageing parents. We can never compensate for their loss, but within our limited capacity, we settled the case for an amount of Rs 62,00,000/- to give some financial security to the bereaved family.

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Epigenetic Clocks as Predictors of Mortality: A New Tool for Life Insurance Risk Stratification

Numerous cohort studies have validated the utility of epigenetic clocks in predicting all-cause mortality. For instance, accelerated epigenetic aging, where biological age exceeds chronological age, has been consistently associated with increased mortality risk (Marioni et al., 2015).

time to read

5 mins

November 2025

THE INSURANCE TIMES

THE INSURANCE TIMES

Life Insurance News

Life insurers cut distributor commissions to pass on GST relief to customers

time to read

7 mins

November 2025

THE INSURANCE TIMES

THE INSURANCE TIMES

Insurance Regulator Update

Irdai's Deepak Sood calls for new distribution model to expand rural insurance reach

time to read

2 mins

November 2025

THE INSURANCE TIMES

THE INSURANCE TIMES

Evaluating the Impact of the New Tax Regime on Motor Accident Compensation Awards

In India, compensation awarded under the Motor Vehicles Act majorly depends upon the income of the deceased (claimant- in case of injury), age and dependency. Since the compensation is calculated based on loss of income after the accident, it increases as the income rises.

time to read

4 mins

November 2025

THE INSURANCE TIMES

THE INSURANCE TIMES

A Comprehensive Risk Management Framework for the Insurance Industry

In the insurance industry, risk is not merely a challenge to overcome; it is the very commodity we trade. Therefore, a robust and sophisticated risk management framework is not just a matter of good governance but a core strategic imperative. It is the bedrock upon which an insurer builds its solvency, ensures compliance with a complex regulatory landscape, and ultimately achieves sustainable, long-term growth.

time to read

13 mins

November 2025

THE INSURANCE TIMES

THE INSURANCE TIMES

"The overall industry seems to have understood the need to change the attitude from selling what it has to what the customer needs. This realization has led to the development of add-ons and modular products which are quite flexible in nature."

About Mr. Lahiri - Mr. Samiran Lahiri is widely regarded as one of India's most accomplished insurance professionals and consultants, known for his strategic insight, deep technical acumen, and exemplary leadership across diverse domains of the insurance and financial services industry.

time to read

11 mins

November 2025

THE INSURANCE TIMES

Parametric Insurance - A Disruptive Model for Climate and Catastrophe Risk Management

Executive Summary - Traditional indemnity-based insurance models have long faced challenges in addressing the growing frequency and severity of natural disasters.

time to read

5 mins

November 2025

THE INSURANCE TIMES

THE INSURANCE TIMES

Safety Perspectives - The Greatest Happiness of Greatest Number

The salvage dealer has many things to pay for, many expenses such as transportation, electricity, rent, employee salaries, machinery, and more. Hence, the salvage dealer would certainly offer a daily prayer: 'Dear God, please bless me with at least 50 salvage cases today and every day'. He wants 50 accident cases every day! There is no harm in his prayer. It is perfectly logical on his part to pray.

time to read

7 mins

November 2025

THE INSURANCE TIMES

Do's and Don'ts While Buying a Term Insurance Policy

Do’s (Things You Must Do)

time to read

4 mins

November 2025

THE INSURANCE TIMES

THE INSURANCE TIMES

Newton's Law - Another interpretation of Proximate Cause

The fire policy we know doesn't cover any loss or damage occasioned by, through, or in consequence of, directly or indirectly, an earthquake, volcanic eruption, or other convulsions of nature. An earthquake is an excluded peril, but loss by theft is an uninsured peril( other than as provided in the RSMDT clause).

time to read

7 mins

November 2025

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