Concept of Accident in Insurance

Unplanned injurious or damaging event which interrupts the normal progress of an activity. An accident may be seen as resulting from a failure to identify a hazard or from some inadequacy in an existing system of hazard controls. Refer “Disease”, “Incident”, and “Occurrence”.

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Provisions under Motor Vehicles Act regarding Transfer of Certificate of Insurance in India

The 1988 Act requires issue of a Certificate of Insurance by the insurers as proof of Third party insurance to satisfy the requirements of Chapter XI of the Act. The Certificate of Insurance Form 51 must be in the form prescribed under the Motor Vehicles Rules framed under the Act. Certificate is to be issued by the “Authorized Insurer and Authorized Government insurance Fund” who are authorized to do general insurance business in India. Certificate of insurance includes Cover Note and Policy of Insurance includes ‘Certificate of Insurance.” Read more

Relevance of Investigation and Importance of written statement in MOTOR THIRD PARTY CLAIM CASES

Motor insurance is the biggest and fastest growing portfolio in the Indian general insurance market. There has been an alarming increase in road accidents during recent years. Read more