Page 87 - Motor Insurance Ebook IC 72
P. 87
Guide for Motor Insurance
Act, 1989), the Solatium Fund Scheme, 1982 was
notified which deemed to have came into force from
1.10.1982.
However, due to repeal and replacement of Motor
Vehicles Act, 1939 with Motor Vehicles Act, 1989, the
said scheme was also repealed and replaced as Solatium
Fund Scheme, 1989.
Compensation was paid to the victims from a fund
created for that purpose known as "solatium fund",
funded by the non-life insurance companies in India
based on their gross motor premium and State as well
as Central Govt.
Earlier the fund was administered by the General
Insurance Corporation. But after conversion of General
Insurance Corporation into General Insurance
Corporation Re, now the fund is administered by the
New India Assurance Company.
Q.16 Claim procedure under Solatium scheme for "Hit
Ans. and Run" cases
Solatium Scheme came into force from 1.10.1982.
The procedure for claim from solatium fund is as follow:
The victim of the "hit and run" vehicle or his legal
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