New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Is there any procedure for settlement by Insurance

    Company under Motor Vehicle Act?
    A no such procedure Correct Answer Incorrect Answer
    B yes by way of negotiation Correct Answer Incorrect Answer
    C yes by way of appointing a panel of arbitrators Correct Answer Incorrect Answer
    D yes by way of designating an officer for the same Correct Answer Incorrect Answer
    E yes as per the directions of the IRDA Correct Answer Incorrect Answer

    Solution

    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.

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