Insurance companies should pay to Police authorities in case of recovery of stolen vehicles

Posted Friday August 21, 2015 by CSLRA India

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Insurance companies especially in private sector are minting money and giving hefty freebies to their agents and executives because of claim-money saved by recovery of stolen vehicles by police-authorities. Practically speaking police-departments act as mute ‘business-partners’ for insurance companies getting nothing from enormous amount of probable claim-money that would have been paid by Insurance companies in case of non-recovery of vehicles.

Concerned regulatory authority for insurance companies should devise a mechanism whereby Insurance companies may have to pay some handsome fixed percentage of claim-money saved to police-authorities of concerned states recovering the stolen/lost vehicles. System will motivate police-personnel for better work, apart from getting funds for further providing modern infrastructure for better policing.

SUBHASH CHANDRA AGRAWAL

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