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

Posted Friday August 21, 2015 by CSLRA India


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.


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