The MTPL insurer is obliged to make a decision on the settlement of the claim and to pay insurance within 30 days of the date of submission of the claim in case of a complete claims file and within 90 days at most in case of an incomplete claims file. The National Commission for Financial Markets provided clarifications in this regard, IPN reports.
According to the Commission, the deadlines and procedure may vary depending on a number of factors, including the willingness of the injured party and the party that caused damage to cooperate in the damage assessment and settlement process.
However, as a general rule, the MTPL insurer is obliged to examine the damaged goods and to draw up a damage ascertaining report within five working days of the date of receipt of the claim,.
Also, the insurer is obliged to pay insurance within 10 working days of the date of issuance of the decision on the settlement of the compensation claim.
If the person does not agree with the amount of compensation, he/she can submit an application to present objections to the insurer within five days of the completion of the claims file. Within five working days of the date of notification, the insurer must resolve the given request.
In case of disagreement with the decision of the MTPL insurer regarding the amount of compensation, the insurer will still pay insurance in the set amount, and the injured party can challenge the MTPL insurer’s decision in court.
