More Motor accident disputes to be resolved faster

The Gen­eral Insur­ace Asso­ci­ation of Singaore (GIA) has just announced that non-injury motor acci­dents will be heard at Fin­an­cial Industry Dis­putes Res­ol­u­tion Centre (Fidrec) for claims up to $3,000, up from the cur­rent $1,000. This will def­in­itely speed up the claim pro­cess instead of being heard at court.

GIA may also legis­late inspec­tions for non-injury cases before the vehicle is repaired and also to register motor survery­ors. These two meas­ures could help to drive down the high incid­ence of inflated and frad­u­lent motor claims.

Let’s hope the motor insur­ance premium will be sta­bil­ize and even decrease in the near future with all these meas­ures being implemented.

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