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Resolution of Insurance Claims

Dated:- 31-7-2015 - As per the Insurance Regulatory and Development Authority of India s (Protection of Policyholders Interest) Regulations 2002, the Authority has prescribed time limits for . However, due to the nature of Motor Third Party Liability, the resolution is generally through the courts of law. Wherever liability is clean and undisputed, resolution through Lok Adalat and out of court settlement by Insurers is encouraged to reduce the time involved in such settlements. Complaints relat .....

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s Act, 1988 with a new Act through the draft Bill namely, The Road Transport and Safety Bill, 2015 which inter-alia proposes enhanced compensation through third party insurance and structured formula basis. The maximum liability for minimum premiums has been proposed for such sum not exceeding Twenty-five lakh supees as the Central Government may, by notification, specify. The draft Bill is available on Ministry s official website :www.morth.nic.in Section 140 of Motor Vehicle Act, 1988 defines .....

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