New Delhi, March 27 -- With a view to curb rising fraudulent and bogus claims, non-life insurance company Shriram General Insurance Company (SGI) on Thursday said it has strengthened its claims investigation team for investigating third party motor claims.
A Motor Accidents Claims Tribunal (MACT) is a special court established under the Motor Vehicles Act to adjudicate compensation claims arising from motor vehicle accidents, providing a faster and less expensive alternative to civil courts for victims of road accidents. Unfortunately, many claims that come up for settlement at the MACT are fraudulent or bogus claims.
The Claim Review team will thoroughly examine the claims to spot inconsistencies. While claims found to be bonafide will b...