Motor claim settlements regulated by law

The insurance regulatory authority has issued a decree specifying the minimum amounts to be disbursed by an insurer to the benefit of road crash victims . These amounts differ according to the use of the damaged vehicle. The decree also requires standardized policies written in easy and comprehensible language. This law comes into effect as of February 1, 2012. To the satisfaction of the consumers, the compensations of whom, so far received, have been below claims costs.