BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The gov’t
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their state’s insurer
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their own insurer
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the state insurance found
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Detailed explanation-1: -The insurance company is responsible for paying the total compensation awarded by the Tribunal. The owner and the Insurance Company have an absolute duty to pay the compensation under Section 149(1) of the Motor Vehicles Act, 1988.
Detailed explanation-2: -How does insurance work when a car accident is not your fault? Typically, the negligent driver’s insurer will cover accident damages. If the at-fault driver’s policy does not have adequate property liability coverage to cover the full value of your car, your collision insurance should handle the rest of the balance.
Detailed explanation-3: -So let’s start with a basic definition: no-fault insurance, sometimes referred to as personal injury protection insurance (PIP), can help cover you and your passengers’ medical expenses and loss of income in the event of a covered accident, regardless of who is found at fault.