Law:

Section:

Insurance Ordinance (XXXIX of 2000)------- --------Ss. 45(5)(b), (6), 59-A & 156-------Failure to maintain proper books and records-------Inspection of record of company-------Failure to give access to Inspection team to various claim files-------During onsite inspection, Inspection team was not given access to various claim files relating to motor claims, which were misplaced allegedly during the shifting of company's corporate branch-------Said files pertained to the workshops, aggregated to more than Rs.1,869,384-------Survey reports of said claims were not available on the Company's Internet Portal-------Fifty four claim files, were missing from the record of the company which raised serious doubts on the authenticity of all those claims/payments-------Said missing of files, signaled inappropriate maintenance of records of the company-------Executive Director (Insurance) of the Commission, dissatisfied with the response of the company, vide impugned order imposed a penalty of Rs.500,000 on the company; with direction to the company to probe into the issue of missing files; and genuineness of claims paid; and to immediately recover the missing files; and report to the Commission within 90 days-------Validity-------Company should have taken care of the files, while shifting premises; and that could not be deemed to be inadvertent on their part-------Fact that, the company, was unable to provide 87% of the requested files, depicted that there had been some level of negligence on part of the company-------All missing files, were related to the workshop owned by close relatives-------Company, could have computerized information of those claims, but it did not contain basis of payment of claims i.e. survey report-------Company, in circumstances, had not complied in terms of S.45(1) of the Insurance Ordinance, 2000-------Default, was committed knowingly in terms of S.156 of the Insurance Ordinance, 2000, as company's stance had been the same throughout-------Was not necessary to provide the original files, as computer records would suffice-------Appellate Bench declined to interfere with impugned order. THIS ORDER PASSED BY: AKIF SAEED, COMMISSIONER…

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