News From Press Insurers ask ministry for motor third party claim filing

Insurers ask ministry for motor third party claim filing

Source: Business Standard Nov 16, 2016

The general insurance industry is seeking a time-limit of one year for filing claims under motor third party policies from the ministry of road transport and highways. Currently, there is no time limit for filing claims under such policies.

Since losses in the motor insurance have continued to be on the rise, non-life insurers have sought relief from the ministry.

Bhargav Dasgupta, MD & CEO, ICICI Lombard General Insurance said as an industry they have sought that there should a time limit for filing motor third party claims.

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