8 Feb 2011
NTUC Income is encouraged by the growing incidence of motor insurance fraud cases being brought before the Singapore Courts. Similar to the case brought before the Courts today, NTUC Income will continue to cooperate with all relevant stakeholders to ensure rightful interests are safeguarded.
In addition to such cooperation, NTUC Income has also embarked on legal action in cases in which it is believes the insured’s rights can be better protected. For the past 15 months, NTUC Income litigated and won 25 court cases involving motor third party claims and these included costs being awarded to our policyholders. This is a credible result, given that it is not easy to litigate and win with costs awarded to the policyholders in the past.
As a leading motor insurer in Singapore, NTUC Income is committed to promoting best practices and this includes taking a more vigilant and vigorous approach in fighting exaggerated third party motor claims where it believes it has a strong case. In taking this approach to protect the rights of our insured, NTUC Income will be more open to using the Courts to determine the outcomes in cases where the evidence is strong and sufficient.
NTUC Income believes its approach will work to safeguard the interests of its insured while creating a more efficient motor insurance market place.