Cameroon: Expediting settlement periods of motor claims
The Association of Cameroon’s insurance companies, (ASAC), is preparing to conduct an awareness-raising campaign among the population with a view to advertising the new expertise convention signed on 11 January in Douala. Baptized as the direct compensation of the insured (IDA), this convention has been designed to simplify settlement procedures and reduce the period for the file processing in the event of a material motor claim.
This scheme can only be enforced for accidents occurring on the Cameroonian territory and involving two vehicles for which material damage is below 500 000 FCFA (804 USD). When the claim is immediately reported and when the assessor responds quickly, settlement may be carried out in 15 days compared to one or two years in the past.
More news:
