15 years after restaurant fire, insurer told to pay owner Rs 52.6 lakh

 A consumer commission ordered New India Assurance to pay over Rs 52 lakh to a restaurant owner. The restaurant owner had approached the commission after a fire destroyed his establishment in 2011. The insurer had initially settled the claim for a much lower amount, which was disputed. The commission found the insurer’s depreciation calculation unjustified and the settlement inadequate. A consumer commission ordered New India Assurance to pay over Rs 52 lakh to a restaurant owner. The restaurant owner had approached the commission after a fire destroyed his establishment in 2011. The insurer had initially settled the claim for a much lower amount, which was disputed. The commission found the insurer’s depreciation calculation unjustified and the settlement inadequate.