Decided on March 12,2020

National Insurance Co Ltd National Legal Vertical Appellant
Biswadeb Koley Respondents


V.K.Jain,J. - (1.) The Complainants had taken a Standard Fire and Special Perils Policy from the Appellant for the period from 22.08.2006 to 21.08.2009 in respect of their plant and machinery as well as in respect of the stock comprising egg and chicken. The policy is stated to have been taken through Respondent Bank of India from which a loan had been taken by the Complainants. There was damage to the live stock as well as to the building shed and plant and machinery of the Complainants, in a cyclone which struck their premises on 25.05.2009. On intimation being given to the insurer, a surveyor was appointed to assess the loss to the Complainants. The surveyor assessed the loss to the Complainant at 8,97,284/-. The insurer, however, made its own assessment and based on that, offered only an amount of 4,33,872/- to the Complainants in full and final settlement of their claim. The Complainant executed a discharge voucher in favour of the insurer on 23.02.2011, whereupon the aforesaid amount of 4,33,872/- was paid to the Bank for being credited in the loan account of the Complainants.
(2.) Alleging deficiency in service on the part of the Bank as well as on the part of the insurer in rendering service to them, the Complainants approached the concerned State Commission by way of a Consumer Complaint.
(3.) The Complaint was resisted by the Bank as well as by the insurer. It was inter alia stated in the written version filed by the insurer that the Complainants having accepted payment of 4,33,872/- in full and final settlement of their claim and therefore, were precluded from claiming any additional payment from the insurer.;

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