Fw: IRDA Circular on Motor Total Loss Claims

[VENKATARAMAN R.]

Dear Friends, 

A Circular from IRDA on Motor Total Loss Claims, published in their website, is attached herewith.

Thanks.  

---

R. VENKATARAMAN  

| Surveyor & Loss Assessor | IIISLA M# F/S/01906 | SLA 17162 | 
| 58 Cooperative-A Colony | KK Pudur, Saibaba Colony |
| Coimbatore - 641 038 | Tamil Nadu | 

| Mobile: 98439-43942 (Office) | 98431-43942 (Office-2) | 98430-43942 (Direct) | 

| Landline: 0422-4383942 | 2443942 | 

---

All communications by any media addressed from Surveyors to Insurers/Insureds/Repairers in respect of any claim of whatsoever nature are WITHOUT PREJUDICE to the rights of the Insurers on the matter of admission of liability.

---

[VENKATARAMAN R.]

Dear Friends, 

The text of the document is given below with highlights to discuss and ponder over the issue: 

--------------------------------------------------------------

To,

ALL GENERAL INSURERS (OTHER THAN STAND-ALONE HEALTH INSURERS AND SPECIALISED INSURERS)

Re: -  Misuse of Total Loss Accident Vehicle Documents over Stolen Vehicles

It has come to the notice of Authority that in case of Total Loss (TL) of the vehicle, salvage of the vehicle is being sold to scrap dealers without cancelling Certificate of Registration (RC) of the vehicle. 

2. It has been informed by the Law Enforcement Authorities that documents pertaining to such vehicles are being misused like giving new identity to the stolen vehicles by forging engine number and chassis number of destroyed vehicles under TL claims.

3. As per Section 55 of Motor Vehicle Act 1988, 

(1) If a motor  vehicle has been destroyed or has been rendered permanently incapable of use, the owner shall, within fourteen days or as soon as may be, report the fact to the registering authority within whose jurisdiction he has the residence or place of business where the vehicle is normally kept, as the case may be, and shall forward to the authority the certificate of registration of the vehicle.

 (2) The registering authority shall, if it is the original registering authority, cancel the registration and the certificate of registration, or, if it is not, shall forward the report and the certificate of registration to the original registering authority and that authority shall cancel the registration.

4. In view of the above, all insurers are advised to ensure cancellation of Certificate of Registration (RC) of the vehicle in case of total loss claim settlement.

 

Yours faithfully,

 

 

 

(Yegnapriya Bharath)

Chief General Manager (NL

--------------------------------------------------------------

---

R. VENKATARAMAN  

| Surveyor & Loss Assessor | IIISLA M# F/S/01906 | SLA 17162 | 
| 58 Cooperative-A Colony | KK Pudur, Saibaba Colony |
| Coimbatore - 641 038 | Tamil Nadu | 

| Mobile: 98439-43942 (Office) | 98431-43942 (Office-2) | 98430-43942 (Direct) | 

| Landline: 0422-4383942 | 2443942 | 

---

All communications by any media addressed from Surveyors to Insurers/Insureds/Repairers in respect of any claim of whatsoever nature are WITHOUT PREJUDICE to the rights of the Insurers on the matter of admission of liability.

---

--
You received this message because you are subscribed to the Google Groups "Indian Independent Insurance Surveyor And Loss Assessors Bengal" group.
To unsubscribe from this group and stop receiving emails from it, send an email to iiisla-benga...@googlegroups.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/iiisla-bengal/893818097.1262975.1564130437764%40mail.yahoo.com.

[P L SIVAKUMAR]

Thank you sir. 

 

 

With regards,

 

P.L. SIVAKUMAR 

Surveyor  & Loss assessor

9A, Kundalakesi street ,

Vannarpet,

TIRUNELVELI - 627003.

TAMILNADU, South India.

 

Mobile  :  0  98430 57530

Phone  :  0462 - 2500209

E-mail  :  plsiva...@yahoo.co.in

--
You received this message because you are subscribed to the Google Groups "Insurance Adjusters" group.
To unsubscribe from this group and stop receiving emails from it, send an email to insurance-adjus...@googlegroups.com.

To view this discussion on the web, visit

https://groups.google.com/d/msgid/insurance-adjusters/2062273720.1278358.1564130727839%40mail.yahoo.com

.

[jqmalik]

Dear colleagues,

After going through this circular of IRDA a question raised. Total loss of motor vehicle is divided in to 2 classes. One is ACTL (actual total loss) and the other is CTL (constructive total loss) Mostly total loss vehicles fall in 2nd class i.e. CTL and most of the CTL vehicles are repaired subsequently. So repaired vehicles sometimes are kept by the Insurers for their workers, sometimes by the Insured himself and sometimes it is sold for normal use. Now if the registration is cancelled in such cases it would create a problem. I think this circular should pertain to the vehicles which are either actually total loss and cannot be repaired or the CTL vehicles which cannot be repaired and sold as wreck. The sound parts of this wreck are then be sold out. 

Thanks & regards!

QAYYUM PERVEZ (PAKISTAN)

To unsubscribe from this group and stop receiving emails from it, send an email to iiisla...@googlegroups.com.

[Pramod Vora]

Sirs, 

A Fortuner insured at Rs. 13 lac and after few months met with an accjdent and surveyor declared as Total Loss. The buyer quoted Rs. 8 lac with RC Book. As per terms of the Insurers to sell it without RC Book. The buyer purchased at Rs. 3 lac without RC Book. The loss is Rs. 10 lac without RC to the Insurance company. If it was sold with RC Book the loss could have bee minimised. 

In order to minimise the loss can Insurance company do one thing that the

buyer should get the vehicle registered in his name  and produce a copy of RC duly attested to the Insurance company. 

 Learned are requested to give their views. 

With regards, 

Pramod Vora

Navi Mumbai 

Sent from Yahoo Mail on Android

You received this message because you are subscribed to the Google Groups "Insurance Adjusters" group.
To unsubscribe from this group and stop receiving emails from it, send an email to insurance-adjus...@googlegroups.com.
To view this discussion on the web, visit https://groups.google.com/d/msgid/insurance-adjusters/d3f2cfca-1550-47fe-986d-fe48639f05f4%40googlegroups.com.

[Chand Bhatia]

Dear Qayyum Bhai, Adaab

Seeing you on group after a very long time. The fact of the case in India is that the total loss vehicle sold with RC are found to be misused by RC being misused on stolen vehicles, by rewelding the chasis no on stolen vehicle. Infact this is promoting the vehicle thefts of high end vehicles. 

More over Indian MV Act demand that vehicle declared as unrepairable should be given for inspection of vehicle Inspector and RC should be cancelled. This vehicle sale without RC is more beneficial to insurance than selling with RC. 

Waiting your book. All the best 

You received this message because you are subscribed to the Google Groups "Insurance Adjusters" group.
To unsubscribe from this group and stop receiving emails from it, send an email to insurance-adjus...@googlegroups.com.
To view this discussion on the web, visit https://groups.google.com/d/msgid/insurance-adjusters/d3f2cfca-1550-47fe-986d-fe48639f05f4%40googlegroups.com.

--

c k bhatia
09810231248

[Swadesh Kumar Dhamija]

I agree with Mr. Quayyum , the NTL vehicles need to be disposed with RC to avoid National wastage.  

Get Outlook for Android

---

From: insurance...@googlegroups.com <insurance...@googlegroups.com> on behalf of Chand Bhatia <bhatia...@gmail.com>
Sent: Monday, August 19, 2019 9:07:48 AM
To: insurance...@googlegroups.com <insurance...@googlegroups.com>
Subject: Re: [Adjusters:14238] Re: IRDA Circular on Motor Total Loss Claims

 

To view this discussion on the web, visit https://groups.google.com/d/msgid/insurance-adjusters/CALprpsUY4zZ6Xt-EK9cTWgPOqF_ysfnPi_er286BrJiyHsSCAQ%40mail.gmail.com.

[javed malik]

Dear brother Mr. Chand Bhtia

Thanks so much for usual prompt response from your side. Also thanks for enlightening my views about the issue of RC. We always learn from your vast experience and competence. May Allah bless you with good health and long life. 

Hope to continue to see you in future.

Best regards!

QAYYUM PERVEZ MALIK

To view this discussion on the web, visit https://groups.google.com/d/msgid/insurance-adjusters/CALprpsUY4zZ6Xt-EK9cTWgPOqF_ysfnPi_er286BrJiyHsSCAQ%40mail.gmail.com.

[javed malik]

Dear Mr. Paramod Vora

You have quoted a very good example of problem I had referred in my previous message. Here in Pakistan it is little different. In such circumstances the Insurance company would sell the CTL vehicle with RC because no law prevent the Insurers to do so. However in case of actual total loss in which case the vehicle cease to exist as a vehicle and can never come back on road the registration certificate is cancelled. The wreck is then sold to salvage dealers who sell it by parts. 

I suggest that the law and insurance rules should be amended in a ways in India too. RC may be cancelled in case of actual total loss but not constructive total loss. 

Regards!

To view this discussion on the web, visit https://groups.google.com/d/msgid/insurance-adjusters/730826622.333107.1566126980434%40mail.yahoo.com.