Sunday, November 10, 2013

Insurance company repudiate liability

Under an agreement among the insurance companies, the insurer can repudiate liability under a motor insurance policy if its policyholder does not report an accident. This allows the insurer to avoid paying the third party claim, even though its insured vehicle cause the accident, and require the third party to take a legal case against the driver, which is time consuming, costly and risky. The third party had no choice but to claim against its own policy and risk losing the no claim bonus. This is not satisfactory.

1 comment:

yujuan said...

Many people find difficulty to claim from NTUC Income, it's better to get your car insured by other insurers, though you have to pay higher premiums.
Worth paying more, with the car population increase. NTUC Income is becoming more and more fake.

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