Traffic Accidents and Claim: A Comprehensive Study on Psychological and Actual Aspects of Insurers’ Obligations and Rights

Abstract

Traffic accidents are an awful reality that greatly impacts people and the insurance sector. We will examine the legal obligations of insurance firms in managing motor vehicle accident claims using standard insurance law concepts and best practices in the context of India. This research paper aims to examine insurers’ obligations and rights thoroughly, as well as the part insurance firms play in road accidents in India. The provisions of the Act that relate to the rights and obligations of the insurer are the main subject of this paper. The foundation of the insurance contract, its types, and its limitations are made clear in the paper’s first section. Additionally, it indicates the areas where the Insurance Company cannot avoid its liability by pleading evasive responses even when the persons involved in the accident were not at fault. It covers the grounds on which the Insurance Company might assert its defenses while defending the case. Also, the role insurance firms play in “no-fault liability.” Certain examples have been addressed where a settlement between the parties could be reached with the tribunal’s blessing. The paper’s conclusion provides some recommendations to speed up accidental claims.