GDP in motor insurance to cross Rs. 38,000 cr by 2016-17
The gross direct premium earned by general insurance companies from the motor vehicle industry in the own damage category is likely to reach Rs 38,200 crore mark by the end…
Procedure of filing an application for compensation in Motor Accident Claims Tribunal
An application for compensation arising out of an accident U/S 166 of Motor Vehicles Act, 1988 may be made:-
International practices of Motor insurance and world scenario of settling motor third party liability
There are different practices of dealing with motor third party liability across the world. Some practices are defined here as follow:
Concept of Liability without Fault in motor insurance? How Motor Vehicle Act deals with without fault liability?
Sec 140 of Motor Vehicles Act, 1988 deals with the liability without fault. The claimant involved in a motor vehicle accident is not required to prove wrongful act, neglect, or…
Hit and Run Accident provisions in Motor Insurance
Hit and Run Accident is a motor accident arising out of the use of a motor vehicle or motor vehicles the identity whereof cannot be ascertained in spite of reasonable…
Rights of third parties against insurers on insolvency of the insured
Sec 150 of Motor Vehicle Act, 1988 provides for the rights of Third parties in the event of the insolvency of the insured or in the event of winding up…
Car insurance to cost 10% more, trucks 50%
Brace for a hike in vehicle insurance premiums. Motor insurers have sought a 5-10% hike in third-party premiums for two-wheelers and personal cars, and a whopping 40-50% for commercial vehicles,…
Motor insurance to see new disclosure norms in FY14
If you are an individual caught by traffic police time and again for violating rules and have a record of paying fines, a motor insurance policy might be denied to…
Concept of Hit and Run Accident in Motor Insurance
Hit and Run Accident is a motor accident arising out of the use of a motor vehicle or motor vehicles the identity whereof cannot be ascertained in spite of reasonable…
Rights of third parties against insurers in Motor Insurance on insolvency of the insured
Sec 150 of Motor Vehicle Act, 1988 provides for the rights of Third parties in the event of the insolvency of the insured or in the event of winding up…