What SC's homemaker benchmark means for insurers
Synopsis A Supreme Court ruling has assigned a notional monthly value of ₹30,000 to unpaid household work. This decision is expected to significantly increase compensation
Synopsis A Supreme Court ruling has assigned a notional monthly value of ₹30,000 to unpaid household work. This decision is expected to significantly increase compensation payouts in motor accident claims. Insurers will likely need to reassess their reserves for third-party claims. The ruling recognizes the economic contribution of homemakers, potentially leading to higher awards in death and injury cases.
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