I met a senior person in AXA. He asked my views about AXA's rejection of the claims arising from the Ferrari crash. I said that the decision of AXA was wrong.
Read this letter in the Straits Times
http://www.straitstimes.com/premium/forum-letters/story/fatal-ferrari-crash-insurers-stance-cause-consumer-concern-20120915
Here are my reasons.
Motor insurance covers collision arising from an accident. The only way for AXA to reject the cover was if the driver had caused the accident intentionally. It would be difficult for AXA to prove this case. So, it is bad for AXA to reject the claim, on the grounds that the driver was reckless.
Read this letter in the Straits Times
http://www.straitstimes.com/premium/forum-letters/story/fatal-ferrari-crash-insurers-stance-cause-consumer-concern-20120915
Here are my reasons.
Motor insurance covers collision arising from an accident. The only way for AXA to reject the cover was if the driver had caused the accident intentionally. It would be difficult for AXA to prove this case. So, it is bad for AXA to reject the claim, on the grounds that the driver was reckless.
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