Define third party liability. Enumerate the procedure involved in sett

1.	Define third party liability. Enumerate the procedure involved in settling Third Party Liability Claims.
Answer» Definition: It is insurance against money which an insured may have to pay to third parties if they accidently cause them injury, loss or damage. a) The aggrieved party has to move the tribunal within a period of six months from the date of accident for filling the claim. b) On receipt of notice of claim from the insured, or the third party or from the MACT, the matter is entrusted to an advocate. c) Full information relating to the accident is obtained from the insured. d) The various documents are collected. e) A written statement is then filed on the facts of the case with the MACT by the advocate.

Define third party liability. Enumerate the procedure involved in settling Third Party Liability Claims.

Answer»

Definition: It is insurance against money which an insured may have to pay to third parties if they accidently cause them injury, loss or damage.

a) The aggrieved party has to move the tribunal within a period of six months from the date of accident for filling the claim.

b) On receipt of notice of claim from the insured, or the third party or from the MACT, the matter is entrusted to an advocate.

c) Full information relating to the accident is obtained from the insured.

d) The various documents are collected.

e) A written statement is then filed on the facts of the case with the MACT by the advocate.

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