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.
The Supreme Court has set a notional monthly value of ₹30,000 for unpaid household work. This ruling is poised to significantly increase compensation payouts in motor accident claims. It will compel insurers to re-evaluate their reserves for third-party claims, recognizing…
Market Samachar is a news aggregator. This article was originally published by Stocks-Markets-Economic Times. Tap the button above to read the full story on their site.