New 'Pay-As-You-Claim' System Implemented in July - Separate Compensation for 'Injury-Type Pay-As-You-Claim' Available

Reported about 1 year ago

Starting in July 2024, the new 'pay-as-you-claim' system is officially implemented, where all policies will follow 'definitive compensation.' Although multiple policies share a 'total control' payout, 'injury-type pay-as-you-claim' and 'medical-type pay-as-you-claim' are considered different insurances and can be independently applied for compensation. The new system also reintroduces the principle of damage compensation, allowing for differential payouts between insurance companies if claims exceed a single policy's coverage.

Source: YAHOO

View details

You may also interested in these wikis

Back to all Wikis