Q219
If the claim could not be settled for want of proper identification of a payee, the insurer shall pay interest at the rate of
A.
Savings bank account
AnswerB.
Bank interest + 2%
C.
5.00%
D.
10%
Answer: Option A
Solution
Answer: Option A
Solution:
If the claim could not be settled for want of proper identification of a payee, the insurer shall pay interest at the rate of savings bank account.