What happens if you fail?
What can happen if the car insurance suddenly fails? We all have at least one car or health insurance, but not everyone knows what can happen if it fails. We delve into the details in the following article.
when you subscribe to insurance contract It is very important to be up to date with your repayments if you do not want to face default or worse. But few people know what can happen if the insurance fails and therefore he cannot pay Coverage services. Let’s see what are the consequences of an insurance bankruptcy.
Insurance: when does it fail?
In this case we can talk about it Insurance company bankruptcy? This is obviously an extreme case but it’s good to be well informed about it. If this happens, the TPL guaranteeIt is limited to the minimum limits prescribed by law, and remains in effect until the expiration of the period for which the premium has been paid.
Insurance bankruptcy: the two cases
Let’s see whichThese are the two situations in which insurance may fail. Deals in detail with:
- optional filtering, Or when the company itself decides not to do the insurance business anymore
- Compulsory administrative liquidationIf it is imposed by Isvap and the Ministry of Economic Development after serious economic deficiencies of the company or serious violations of the law and administrative irregularities.
What are the legal implications?
Let’s look at the legal level What are the implications of these two possibilities. In the event of compulsory administrative liquidation, all contracts for which the premium has been paid remain valid. However, this is only until the 60th day after bankruptcy.
What happens to damage claims?
Now let’s see what will happen in detail astute Compensation for damages other than RC Auto. In these cases, the aggrieved party must enter the credit claimed as damages for non-Rca collateral into the obligations of the action, a credit to be accepted in the adverse event of the action.
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