Insurer Raises Ceiling for Digital Car Collision Claims

Iran Insurance Company, the largest and the only one owned by the government, has raised the ceiling for digital payment of third-party auto accident claims by 14 times, from 500 million rials ($1,800) to 7 billion rials ($25,000).
The major insurer said policyholders have welcomed the move.
"Digital payment of claims has indeed expedited the process of payout settlement and curbed mistakes and miscalculations," Ali Hossein Tahmasebi, the head of IIC financial affairs department was quoted as saying by Risknews.