The insurance watchdog, Insurance Regulatory and Development Authority (IRDA), has asked general insurance companies to honour claims on the compulsory personal accident cover given with their motor insurance policies.
Apparently, some claims were being refused on the grounds that nominee details were not filled up by the policyholder. Now, IRDA has directed the insurance companies to make sure that nominee details are incorporated in the proposal form.
We feel that details of the owner can always be put but driver /passengers can go on changing therefore the name of nominee will always be a point of dispute .In the event of death of a person mother or wife( of the deceased) both can claim to be the nominee and who should be given the cheque ? More discussion and clarification is required .
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