NEWS & ADVICE : AUTO INSURANCE
Third party claim settlement will now be faster with PSU insurers
By Neelima Shankar
Mar 19, 2012
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Public sector insurance companies are working out on ideas to initiate faster claim settlement processes. In the same context, four major PSU insurers namely National Insurance, New India Assurance, Oriental Insurance and United India Insurance have established a common mechanism for settlement of third party claims in Kolkata.

The idea behind this mechanism is to work towards faster claim redressal mechanism in terms of mutual contact between companies and insured and their family.

Third party claims cover against any injury or accident caused to any third party if the vehicle meets with an accident.
This happens to be the first of such centers to be introduced by these companies. However, the companies plan to open similar centers in more parts of eastern India including Guwahati, Cuttack, Rourkela and Bhubaneshwar.

"We plan to set up three more centres in Bengal; and a total of nine centres in the eastern region by March. Plans are afoot to take the number centres to 50 by March next year," said Mr C.P.R. Varma, General Manager, National Insurance Company.


 


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