Published Paper Details:

Arbitration is an emerging method of adjudication in the commercial matters and its development in the disputes regarding claims under insurance. In India, the matters relating to arbitration deals under the Arbitration and Conciliation Act, 1996, while the claim of insurance generally comes before the district consumer forums along with the State and Central Consumer Commission subject to pecuniary jurisdiction. In this article, it is being discussed by the author that the relevance and enforcement of arbitration awards passed in the case relating to insurance. The concept of insurance stands on the pillars of the intention of compensating for the damage incurred and reducing the risk, but on the condition that the premium received for it must be adequate to the agreed risk, otherwise it will cost the existence of the insurer company in commercial market. The author has briefly discussed the New York Convention and principle of Kompetenz-kompetenz along with the principle of contra proferentum. The author has further discussed the advantages and the problems of arbitration clause in insurance agreement. In the article the author has discussed the cases relating to the interpretation of ambiguous terms of contract and the preliminary issues. Furthermore, the author has mentioned some guiding landmark cases relating to subjects along with discharge vouchers and has concluded with some suggestions.