Actually AXA gave advance
payout to victims of the crash, even before the Ferrari driver was
legally found guilty.
http://www.btinvest.com.sg/insurance/motor-insurance/ferrari-crash-advance-payouts-offered/
But AXA seeking
reimbrusement from the Ferrari driver family.
But the Family of the
Ferrari driver suing AXA, read yourself :
THE insurers of the Ferrari involved in the crash that killed a
taxi driver and his passenger and injured two others have taken the
unusual step of offering advance payouts to the victims.
Normally, an insurer’s payout to third-party victims would not be
made until the insured driver is found to be at fault by the court,
or until the consent of the driver’s family is obtained.
In
the May 12 crash, Mr Ma Chi, 31, is said to have run a red light
along Victoria Street.
His car hit a taxi, which then hit a motorcycle. The cabby and his
Japanese passenger died, while two others were injured.
AXA Insurance Singapore gave notice in July to the family of Mr Ma
that it regards the incident as a collision, not an accident.
This means it will not provide insurance coverage for the family,
but will settle the claims of third-party victims and then seek to
be reimbursed by the family.
The family has challenged AXA’s stand and a potentially landmark
court case to settle the issue is pending.
AXA said yesterday that it had asked the injured victims – Mr
Muhammad Najib Ghazali, 26, and Ms Wu Weiwei, in her 20s – and the
families of Mr Cheng Teck Hock and Ms Shigemi Ito to submit their
claims. It has settled an interim claim from Ms Wu for her medical
costs, while responses from the others are pending.
Stressing that the crash was an “exceptional case” which was not
covered by the insurance policy, AXA refuted the family’s defence
as “unreasonable”.
It said in court papers filed yesterday that if traffic conditions
were poor, as claimed by the Ferrari driver’s family, then “the
response of a prudent and reasonable driver will be to reduce speed
to ensure the safety of himself, his passengers and other road
users”.
“The driver drove his Ferrari at a speed far in excess of the limit
for the road and went through a junction where the lights were red
against him for a substantial period of time,” it added.
An AXA spokesman made it clear this was an extreme case “sitting
far beyond the risks that motor insurance policies cover. We are of
the view that as a responsible insurer, we provide cover for risk
but we cannot guarantee cover for extreme acts of
recklessness”.
AXA, which has a presence in 57 countries, is one of the largest
motor insurers in Singapore. It insured more than 120,000 cars and
paid nearly $100 million in claims in motor insurance last
year.
If you intend to drive at
178kmph! Insure with AXA.
They
pay!!
Good slogon or not
AXA?
