Now you will be eligible for cashless treatment after April 1, 2022, if you, unfortunately, encounter a motorbike accident under the Golden Hour Policy. Indian Government has notified about its new rule regarding the Gold Hour Treatment Policy. Zee Business’ Anurag Shah decodes the new rule and other details. 

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General Insurance Council will be the authority to ensure that people get seamless access to cashless insurance. 

Earlier Government made some amendments to the motor vehicle act and sent some notifications regarding the third-party insurance claim.

The third-party claim worth Rs 25,000 has been increased to Rs 2 lakh. And in case of injury or accident the limit has been increased from Rs 12500 to Rs 50,000.

No-Fault Liability, when the person had no fault in the accident that occurred, the cap in case of death is Rs 5 lakh, and in case of injury, it stood at Rs 2 lakh.

Earlier, there was no deadline for filing the claim after the accident, but it has been changed to 6 months from the date of the accident, implemented after April 1, 2022.

There are three new types of funds that have been created, and they are:

Insured Vehicle Account - The cashless treatment will be made using this account and will be paid by the third-party insurance company.

Uninsured Account - This will be fulfilled by the Central Government

Hit and Run Compensation Account - It will be fulfilled by the remaining amount of Solatium Funds and the general insurance company against third-party insurance.

For more details, Watch Full Video Here:-