Preface: With new liberalization policies encouraging FII (Foreign Institutional Investment), Automobile giants all over the world started establishing their base 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

Third Party Motor Claim (A Solution)

Editorial The Economic Times, The price of risk Premia Must Reflect Profile of Insured. A group constituted by the Insurance Regulatory Authority of India (IRDA) has proposed fixing of motor insurance premium (own damage) based on a combination of risk factors and the policy holder’s risk profile – Risk Factor Rating System. This proposal is part of a roadmap towards de-tariffing motor (own damage) insurance from 1 April 2005. Read more

Motor Third Party Fraud Claims – How to counter losses

1. Many news are making headlines regarding motor third party claim like “Insurance companies are bleeding as far as motor T.P. claims are concerned, companies are paying interest in lakhs on the above claims per day. The incurred claims rates for motor T.P. claim is 300% and above. Read more