INSURANCE LAW
Rejection of the limitation defence in a claim for diminished vehicle value
In the application we pursued seeking compensation for the loss of value sustained by a vehicle as a result of a traffic accident, the insurance company raised a limitation defence.
In our application we argued that, for claims arising from compulsory motor third-party liability insurance, the period does not run from the date of the accident but from the date on which the damage and the party responsible became known. Assessing the damage records in the file together with the loss adjuster's report, the arbitration panel rejected the limitation defence and, in line with the expert report obtained, ordered payment of the diminished value together with the adjuster's fee, plus interest accruing from the date of the application.
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