Limitation of claim amount by Insurance Companies
I don't know how far this is true, but I am posting this as received. Please throw some light. *Very important message please don't ignore it is for the use of Transporters as well as all public who are using vehicle:-*
* on Dt. 09/08/2016 the Transport minister Mr. Nitin Gadkari had placed Motor Vehicles Amendment Bill 2016 in Lok Sabha which is against the interest of public but in favour of Insurance Companies, the drawback of the bill is that, the limits of Insurance companies in case of any Injury is limited to Rs. 5 lakh and in case of death it is limited upto 10 lakhs only and rest of the burden of satisfying the claim is upon the owner of the vehicle.*
*For example:- If your vehicle caused an accident and a person is dead due to the said accident and his legal heirs claim for compensation before Motor Accident Tribunal / Court and the court adjudicate the claim for 30 lakhs then in that event the Insurance Company will only pay Rs. 10 lakhs and the rest of Rs. 20 lakhs will be recovered from the owner of the Motor vehicle, in short the Insurance will not pay a single penny above its limit of Rs. 10 lakhs.*
*Wake up and raise your voice against this bill, protest at large or else be ready to pay despite being Insured by paying hefty Insurance premiums.*
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Please inform to your friends more
* on Dt. 09/08/2016 the Transport minister Mr. Nitin Gadkari had placed Motor Vehicles Amendment Bill 2016 in Lok Sabha which is against the interest of public but in favour of Insurance Companies, the drawback of the bill is that, the limits of Insurance companies in case of any Injury is limited to Rs. 5 lakh and in case of death it is limited upto 10 lakhs only and rest of the burden of satisfying the claim is upon the owner of the vehicle.*
*For example:- If your vehicle caused an accident and a person is dead due to the said accident and his legal heirs claim for compensation before Motor Accident Tribunal / Court and the court adjudicate the claim for 30 lakhs then in that event the Insurance Company will only pay Rs. 10 lakhs and the rest of Rs. 20 lakhs will be recovered from the owner of the Motor vehicle, in short the Insurance will not pay a single penny above its limit of Rs. 10 lakhs.*
*Wake up and raise your voice against this bill, protest at large or else be ready to pay despite being Insured by paying hefty Insurance premiums.*
.
Please inform to your friends more
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NO DOUBT it is Draconian law only targeted to save the wasted interest of the Insurance companies mainly private owned, and to grab the money from general Public. It is essential to "raise your voice against this bill" and the very tendency of this nature. more
Sep 04
The Prime Minister should interfere and stop his minister Nitin Gadkari from doing any acts highly detrimental to public interests. If necessary, he should sack him and ensure that such bills do not get a passage in the parliament. more
Sep 02
With a hike of all fees and Fines , by manifold amounts how can the compensation for a human life be so meagre, This should be looked into. more
Sep 01
