THE ROLE OF JUDICIARY IN ENSURING FAIR CLAIMS SETTLEMENT IN INSURANCE DISPUTES

Life is full of risks. Being a social animal average human being always try to decrease risk. An
age old method of sharing of risk through economic operation laid to development of the
concept of Insurance. Insurance is an assurance that if a particular kind of event happens, the
aggrieved person will be paid the money. He who seeks such protection against such a risk is
called the insured‟ and who undertakes to protect such person from financial loss or some miss
happening is called the insurer or underwriter. With the increase in human activities of
adventures and risky nature, the need for insurance has grown substantially. Insurance not only
protects the individual from unexpected peril but also acts as an instrument of social progress
and economic development of nation. This paper is analysing the role of judiciary in insurance
related issues.