THE EDITOR, Sir:
ON JANUARY 7, 2002, I was driving along 'High 95' towards the Mandela Highway when a herd of cattle charged across the roadway. The motorist heading in the opposite direction swerved to avoid a collision with the herd and crashed head-on into my vehicle.
On May 28, 2002, the insurer of the other party wrote to my insurance broker indicating that "... the matter [claim] is receiving attention and a complete reply will be forwarded shortly". Coupled with the other party's insurers' tardiness, my insurers do nothing in relation to my claim unless I call or visit their office. I also have another claim outstanding from December 1997. Again, the other party caused this accident by driving into the rear of my vehicle.
The other party is insured with yet another insurance company, a member of a group of companies - the same group to which my broker belongs. Although the accident was reported to the insurers on January 19, 1998, it took them two months to respond. Again, the response was, "...the matter is receiving attention and a complete reply will be sent shortly". This represented the last correspondence. This seems to be the standard response from the motor insurance companies. However, these matters are never actually addressed unless the insured can afford to sue the third party's insurer to recover damages.
The incestuous and collusive relationship amongst motor vehicle insurers and insurance brokers has been allowed to fester without effective regulator intervention. The consumers are continuously being raped by motor vehicle insurers while the Government stands by and watches. I think we deserve better.
The insurance regulator should be empowered to collect information on the proportion of unsettled claims made against each insurance company on a monthly basis. This should be reviewed and published to put pressure on the insurers. In cases where claims are not settled over protracted periods, the regulator should also be able to impose penalties on the insurer. I have never had confidence in the previous insurance regulatory body but I have not lost hope. The new regulator (the FSC) may be more effective but that is yet to be seen.
I am etc.,
PATRICK K. WILLIAMS
New Braeton,
Greater Portmore P.O.
St. Catherine
Portmore
Via Go-Jamaica
