NTUC Income offers fair settlement of claims. Sometimes, the clainmant is badly advised and tried to ask for a higher compensation. Here is a recent case.
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Our insured, who was driving a motor cycle, had hit into the deceased, who was crossing a 4 lane road (not at a pedestrian crossing). Approximately 2 weeks after the accident, the deceased died.
The deceased's wife made a clim in excess of $250,000 for dependency and pain and suffering suffered by her late husband.
Our claims committee made an offer to settle the claim for $35,000. The claimant rejected our offer and insisted on $250,000.
This matter was heard in court. The final award was for $26,000. With interest, the total was $29,000.
Cost of $6000 was awarded against the claimant. We were also allowed to claim for our cost of $30,000 to defend the claim in the high court.
This has been very costly for the claimant. If she had been properly advised, she should have accepted our offer of $35,000 and save a lot of money on legal expenses.
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