Insurance

[Mrs Kickstart]

Hi,

As part of something else I have come accoss some information about insurance that may be of use.

This is eurpean 4th directive which requires.

Requiring there to be an Information Centre who can identify the insurer of the other party from the registration plate;

Allowing the injured party a direct right of action against the insurer;
Requiring the insurer to nominate a representative in the injured party’s own country who has sufficient powers to settle the claim;

Ensuring that there is a compensation body to pay the claim in the event that the insurer cannot be identified or is manifestly dilatory in settling a claim.


How long will it take for an insurer to pay a claim?

Clearly this depends on the complexity of the individual claim. However, the insurer of the party that caused the accident or their claims representative in required to make a reasoned response or offer within 3 months of the claim be presented. This will be regulated, for UK insurers, by the FSA. Moreover, interest will be payable on any settlement unnecessarily delayed beyond 3 months.

More information is here https://www.miic.org.uk/public/fourth_directive.htm

May be of help if anyone is being messed arround

Regards
C