Case Note & Summary
The case involved an appeal by the Branch Manager of Oriental Insurance Co. Ltd against a decision of the High Court regarding the compensation awarded to the claimants. The Supreme Court examined the appeal and noted that the High Court had adopted a multiplier of 11 for calculating the compensation amount. Upon review, the Supreme Court found this multiplier to be on the higher side and concluded that a multiplier of 8 would be more appropriate and reasonable. Consequently, the Court modified the High Court's order to reflect this change in the multiplier, thereby adjusting the compensation amount to be paid to the claimants. The appeal was disposed of with this modification.
Headnote
A) Insurance Law - Compensation Calculation - Appropriate Multiplier - Not mentioned - The Supreme Court found the multiplier of 11 adopted by the High Court to be excessive and determined that a multiplier of 8 was more just and reasonable for calculating compensation. The Court modified the High Court's order accordingly. Held that the adjustment in the multiplier was necessary for fair compensation (Paras Not mentioned).
Issue of Consideration
Whether the multiplier adopted by the High Court for calculating compensation was appropriate.
Final Decision
The Supreme Court modified the High Court's order by reducing the multiplier from 11 to 8 for calculating compensation, thereby adjusting the amount to be paid to the claimants.
Law Points
- Compensation calculation
- multiplier method
