Share on LinkedInShare on LinkedIn

ARTICLE · 08 SEPTEMBER 2024

Denotification Of Arbitration Clause In Risk Contracts

JSA Advocates & Solicitors
JSA Advocates & Solicitors
Contributor
JSA Advocates & Solicitors

JSA Advocates & Solicitors

Established in 1991 Our services: JSA is a leading law firm in India with more than 600...

View firm profile
Explore more from JSA Advocates & Solicitors

Further to the October 27, 2023, notification issued by IRDAI providing directions as regards the arbitration clause in general insurance policies, IRDAI has clarified that risk contracts such as fire...

IndiaInsurance
Sidharrth Shankar
Sidharrth Shankar
Varun Sriram
Varun Sriram
Dhruv Malhotra
Dhruv Malhotra
Abhik Sriram Kunduri
Abhik Sriram Kunduri
Author LinkedIn connections

Further to the October 27, 2023,1 notification issued by IRDAI providing directions as regards the arbitration clause in general insurance policies, IRDAI has clarified that risk contracts such as fire, motor, engineering, workmen's compensation, and other classes of insurance business must be governed by the aforementioned notification.2

Footnotes

1. Circular dated October 27, 2023. IRDAI/NL/CIR/MISC/188/10/2023

2. Notification dated January 22, 2024. F. No. IRDAI/Gen Insurance/Tariff/1/195/2024

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Read more about

Related Comparative Guides

See more popular content from

Article

India’s IRDAI Overhauls The Insurance Company Share Transfer And Amalgamation Framework

On July 30, 2026, the Insurance Regulatory and Development Authority of India (the “IRDAI”) notified the IRDAI (Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers) (Amendment) Regulations, 2026 (the “Amendment Regulations”), amending the IRDAI (Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers) Regulations, 2024 (the “Principal Regulations”).
IndiaInsurance
Majmudar & Partners
Majmudar & Partners
Article

The Supreme Court Of India Clarifies: Order II Rule 2 Of The Code Of Civil Procedure, 1908 Cannot Be A Ground For Rejection Of Plaint Under Order VII Rule 11(D) Of The Code Of Civil Procedure, 1908

A two judge bench of the Hon’ble Supreme Court of India (“Supreme Court”) in S. Valliammai and Ors. vs. S. Ramanathan and Anr. recently held that Order II Rule 2, Code of Civil Procedure, 1908 (“CPC”) cannot constitute a ground for rejection of plaint under Order VII Rule 11(d) of the CPC. The Supreme Court drew a critical distinction between the two provisions clarifying that while Order II Rule 2 curtails the right to sue for certain claims or reliefs, but it does not bar filing of a suit under Order VII Rule 11(d) of the CPC.
IndiaLitigation, Mediation & Arbitration
JSA Advocates & Solicitors
JSA Advocates & Solicitors
Article

Supreme Court Clarifies That Compromise Decrees Asserting Pre-existing Rights Are Not Subject To Registration Or Payment Of Stamp Duty

In the recent case of Mukesh vs. The State of Madhya Pradesh and Anr., the Hon'ble Supreme Court of India adjudicated on the issue of whether compromise decrees that assert pre-existing rights necessitate registration under the Registration Act, 1908 and are subject to stamp duty under the Indian Stamp Act of 1899.
IndiaLitigation, Mediation & Arbitration
JSA Advocates & Solicitors
JSA Advocates & Solicitors