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Arbitration Clause valid only for commercial segments and not for retail insurance, says IRDAI

Arbitration Clause valid only for commercial segments and not for retail insurance, says IRDAI

by AIP Online Bureau | Jan 25, 2024 | Indian News, Non-Life, Regulation

Accordingly, the IRDAI, in a recent circular, has asked the general insurers to state in the policy documents for commercial lines of business that “The parties to the contract may mutually agree and enter into a separate Arbitration Agreement to settle any and all...

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