My insurance policy was lapsed because of non payment of premium. The insurance agent to whom I paid the amount to deposit with LIC did not deposit my premium to LIC. Can LIC be held responsible for the omission of its agent?
My insurance policy was lapsed because of non payment of premium. The insurance agent to whom I paid the amount to deposit with LIC did not deposit my premium to LIC. Can LIC be held responsible for the omission of its agent?
As the LIC agent are not authorized to collect the premium on behalf of LIC, so LIC can not be held responsible for any omission by its agent for which agent has not authority. As such no action can be taken against LIC.
