Direct insurance firms to pay motor claims in bank accounts: SC to courts

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Direct insurance firms to pay motor claims in bank accounts: SC to courts - Business Standard

Quick Summary:

According to the practice extant, insurance companies, when they are supposed to pay a claim, either deposit the sum with the tribunal, or in some small percentage of cases, transfer it to the accounts of the claimants if directed by the tribunal in the award.

The Supreme Court on Tuesday asked courts and tribunals to direct insurance companies to transfer claim amounts directly to the claimants' bank accounts to avoid unnecessary delays.

"The general practice followed by the insurance companies, where the compensation is not disputed, is to deposit the same before the tribunal.