THE FAMILIES OF MOTOR ACCIDENT VICTIMS SUFFER A LOT FOR GETTING DAMAGES AS INSURANCE COMPANIES TAKE TIME TO SETTLE AND GO FOR legal DISPUTES. THE LAW SHOULD BE SUITABLY AMENDED TO ENSURE THAT INSURERS ARE ALLOWED TO further the legal DISPUTES ONLY IF THEY DEPOSIT 50% OF DISPUTED CLAIM or 100% of their offer.COURTS SHALL ORDER MONTHLY SUBSISTENCE SAY WITH A MINIMUM OF Rs.2000/ and maximum of Rs.10000/ UNTIL THE
case is over.
SIMILARLY SURVIVING FAMILIES FIND MORE DIFFICULTY WHEN THE INSURANCE FOR VEHICLE INVOLVED IN ACCIDENT IS NOT RENEWED AS THEY HAVE TO RECOVER THE DECREED AMOUNT OF COMPENSATION FROM VEHICLE OWNERS FILING EP. SO I OPINE GOVERNMENT SHOULD GO FOR LIFE TIME THIRD PARTY INSURANCE AT THE TIME OF ACQUISITION OF VEHICLES LIKE LIFE TIME TAX.Now for Third Party insurance premiums are pooled where the 10% goes as commission to insurers.As such it was reported that large number of vehicles are not insured after few years of purchase. Lifetime third party insurance will improve spread among vehicles as there will be no uninsured vehicles and rate of premium may come down. The Government can delink third party insurance from insurers and form a separate body to pool the life time third party insurance premiums received and settle claims directly.
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Sir,
ReplyDeleteYes this is the very good suggestion. Hope the concerned authorities will look into.Or whether we can try our Universal Sompo Insurance company.