Insurance cos criticized by Delhi High CourtThe Delhi High Court has criticized insurance companies for the lack of interest in settling compensation claims of motor accident victims.
Apnainsurance.com Research Bureau
21 Feb 2008
The Delhi High Court has criticized insurance companies for the lack of interest in settling compensation claims of motor accident victims.
The court observed this after an appeal made by Delhi-based Narinder Bisahal and his wife, who lost their son in an accident, for enhancement of compensation awarded by a Motor Accident Claim Tribunal. Their son, died on July six in 1999 while he was riding a scooter. He was crushed a tempo and a bus.
The court commented that insurance companies do not put in the required effort in compensating the victims of the accidents in injury cases.
The insurance companies are asked to endeavor to settle claims before the victims or their family was forced to approach courts.
Motor Accident Claim Tribunals should consider the rate of interest equivalent to National Saving Certificates while awarding the compensation. Tribunals may increase or decrease the rate of interests for the delay caused by the litigants, pursuing the claim cases.