What is No Fault Indemnity under CTPL?
This is the maximum amount the
insurance company is required to pay a third party injured or killed in an
accident involving the insured vehicle without the necessity of proving fault
or negligence on the part of the insured. The limit under this benefit is Php
15,000.00 per person.
Settlement under the No Fault
provision does not prevent the third party from pursuing his claim further. A
third party claimant is not required to sign a “quit claim” if settlement is
under the no fault provision.