The failure of Bajaj Allianz to decide on a customer’s claim within a month has attracted the ire of consumer forum in Nashik (Maharashtra) which has ordered it to settle the claim with interest.
The complainant, Santosh Maid, had approached the consumer forum on 30 December 2013 stating that his vehicle went missing from the parking bay of a city mall on 21 January 2012.
The police complaint was registered the next day. He presented his claim of Rs4.56 lakh with Bajaj Allianz on 22 February 2012. Mr Maid failed to give the second key of the vehicle to the insurance company claiming that it was lost. The insurance company admitted the proposal for the claim on 22nd February but failed to settle it within the stipulated time.
When asked by the complainant on 4 March 2013, the company said that the claim could not be processed because complainant’s failure to give the second key implied that adequate security measures were not taken to safeguard the vehicle.
The forum, in its order on 21 January 2015, noted that the Insurance Regulatory Development Authority of India has set a 30-day time limit to either accept or reject the claims of customers.
The order noted that since that had not been done, Bajaj Allianz should pay the customer Rs4.56 lakh for his vehicle as claimed along with 12% interest from 22 March 2012. The forum also ordered Bajaj Allianz to pay Rs15,000 for mental harassment and Rs5,000 for costs incurred.