Dear team,
I joined this company 3 months ago and discovered an issue with a car (Elantra) accident claim that is pending. The car had been transferred from one of our sister concerns. The Managing Director of both companies is the same, and although the name of the company was changed, the insurance company was not notified of this change.
Currently, the insurance company is refusing to process the car accident claim on the grounds that the actual owner of the car is not listed as the insurance holder. This has become a legal matter, and it seems that only by having our legal advisor send them a notice and proving them wrong can we potentially secure the insurance claim.
My boss is pressuring me regarding the insurance claim, and despite numerous attempts to follow up, the insurance company has not provided any reimbursement.
Please suggest a way to resolve this issue.
Warm regards,
Rachna
From India, Mumbai
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2I joined this company 3 months ago and discovered an issue with a car (Elantra) accident claim that is pending. The car had been transferred from one of our sister concerns. The Managing Director of both companies is the same, and although the name of the company was changed, the insurance company was not notified of this change.
Currently, the insurance company is refusing to process the car accident claim on the grounds that the actual owner of the car is not listed as the insurance holder. This has become a legal matter, and it seems that only by having our legal advisor send them a notice and proving them wrong can we potentially secure the insurance claim.
My boss is pressuring me regarding the insurance claim, and despite numerous attempts to follow up, the insurance company has not provided any reimbursement.
Please suggest a way to resolve this issue.
Warm regards,
Rachna
From India, Mumbai
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I would recommend that you get the Accounting Department to provide records of premium payment statements/demands from the insurance company and the cancelled, returned checks from the past years issued by the old company and the new company (which I assume were used for payment by the Company).
In this way, it can be shown that the insurance company knew, or should have known, that the premium for the car insurance was properly paid; that the car was properly insured under one or both companies, that they cashed the premium checks and therefore assumed liability under the policy. The car was properly insured; it is of little relevance who the "Owner" is/was. In fact, the "owner" may be the company.
PALADIN
From United States,
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In this way, it can be shown that the insurance company knew, or should have known, that the premium for the car insurance was properly paid; that the car was properly insured under one or both companies, that they cashed the premium checks and therefore assumed liability under the policy. The car was properly insured; it is of little relevance who the "Owner" is/was. In fact, the "owner" may be the company.
PALADIN
From United States,
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I would advise you to approach your company's legal officer because the insurance company is obligated to compensate only the owner of the vehicle, which in your case is a sister concern of your company. Legally speaking, until you prove your ownership to the insurance company, they are not going to resolve the issue.
Regards,
Vinoth
From India, Madras
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Regards,
Vinoth
From India, Madras
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Legal Clarification on PF Contribution Reduction & Transfer of Ownership & Management.pdf