INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016
Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI)
Conflicts are inexorable and insurance is no exception to the same. The idea behind insurance is to mitigate risk and compensate for losses that have already occurred. Long-running, unresolved cases are overloading Indian courts. The issue is still far from being fixed as backlogs of unresolved cases continue to increase despite the installation of more than a thousand fast-track courts that have already processed voluminous cases. The two most frequent complaints from customers are the non-payment of claims on technical grounds and their displeasure with business practices. Contemporaneously the insured also engages in fraud and misrepresentation. Currently, people have started to place their confidence towards Alternate Dispute Resolution to avoid courtroom litigation. In the context of insurance, there are different procedures used by insurance companies to settle claims and legal issues. This line of action is made available to insured clients as one of the sources of remedy when a claim is rejected. In fact, ADR is being considered as the first step by the majority of Insurance Companies by incorporating ADR clauses in the insurance contracts or policy proposal or policy wordings. It is used to prevent time-consuming and expensive litigation. This paper would elucidate the consuetude of ADR concomitant to Insurance Disputes and will through light on a few aspects such as the cause of insurance disputes, the role of regulatory bodies and courts, why ADR should be preferred in such disputes, a study on which Insurance company prefers ADR predominantly to resolve disputes and the effect of ADR in Insurance disputes.
"CONSUETUDE OF ADR CONCOMITANT TO INSURANCE DISPUTES", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.8, Issue 5, page no.g60-g72, May-2023, Available :http://www.ijnrd.org/papers/IJNRD2305606.pdf
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2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
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