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In ‘Hit and Run’ cases, claims are settled from _______

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Question: In ‘Hit and Run’ cases, claims are settled from _______

Options:

  1.  Solatium Fund
  2.  IRDA’s contingency Fund
  3.  Insuring Company’s reserves
  4.  Motor Third Party Pool
  5.  State Government’s funds

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1. Solatium Fund

In ‘Hit and Run’ cases, claims are settled from Solatium Fund.

More info:

The compensation under 'Hit & Run' are settled from Solatium Fund.

This fund is contributed by General Insurance industry under an agreed formula.

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