Question

Is there any procedure for settlement by Insurance

Q: Answer-Is there any procedure for settlement by Insurance Company under Motor Vehicle Act?

S. 149. Settlement by insurance company and procedure therefor . -- 1 The insurance company shall, upon receiving information of the accident, either from claimant or through accident information report or otherwise, designate an officer to settle the claims relating to such accident.

Company under Motor Vehicle Act?

A no such procedure

B yes by way of negotiation

C yes by way of appointing a panel of arbitrators

D yes by way of designating an officer for the same

E yes as per the directions of the IRDA

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Is there any procedure for settlement by Insurance

Solution