Mumbai: The Maharashtra State Consumer Disputes Redressal Commission, has set aside an order passed by the Sangli District Consumer Commission, which had directed ICICI Lombard General Insurance company to pay over Rs 7.25 lakh in compensation to Usha Sales Agency, a Sangli-based business, for damages caused by floods in August 2019.

The bench held that flood damage occurred in the basement, was explicitly excluded from coverage under the terms of the fire and special perils insurance policy.

Bench Upholds Strict Interpretation Of Insurance Contract

The state commission bench, comprising Justice S.P. Tavade and Vijay C. Premchandani while passing the verdict cited the Supreme Court precedents, there by reaffirming that insurers are liable only for risks covered under the policy and can

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