Page 122 - Motor Insurance Ebook IC 72

The Insurance Times

suit or action can be taken unless arbitration award
has been obtained. If insurer rejects claim and the
insured does not file a suit in a court of law within
12 months of the rejection then it will be presumed
that the claim has been abandoned and not
recoverable.

7. Due observance of terms and conditions as
precedent to Liability- The insured is required to
observe and fulfill all the items and conditions of
the policy. All statements and answers in the
proposal form are to be made truthfully by the
insured.

8. Transfer of the policy in the event of death of the
insured. In the event of the death of Insured the
policy will remain valid for three months from the
death or until expiry of the policy (whoever happens
earlier).

The legal heirs are required to have the policy
transferred in their name or take a fresh policy within
this period. To obtain the transfer or new policy the
legal heir is required to make an application to the
Insurers within the time allowed and submit along
with the following documents:
1. Death Certificate

Website: www.bimabazaar.com Call: 033-22184184 / 40078428 122

Copyright@ The Insurance Times. 09883398055 / 09883380339