Tuesday, November 13, 2012

Tackle the root cause of inflated motor claims

ACCORDING to the General Insurance Association of Singapore,
regulations introduced in May last year
require motorists making property damage claims
to give other motorists or their insurers the opportunity to inspect
the damage to the vehicles before repairs are undertaken
("Pre-repair inspection rule for accident vehicles"; last Friday).
The association should state
the percentage of third-party claims that follow this regulation.
In my consulting work in the region, I know that
the cost of motor repairs in Singapore is several times that in neighbouring countries.
While this can be partly explained by the higher cost of doing business here,
the scale of the difference indicates that there are other contributing factors.

No comments:

Blog Archive