FSC Drowning in 400+ Claims: Car Owners In Limbo

The Financial Services Commission (FSC) is struggling to handle a flood of claims from owners of cars damaged during the Belal floods.

Over 400 complaints have been received by the FSC, in addition to the 200 damaged cars listed by the police.

The verification process for these claims is complex and delays are raising concerns about how quickly affected car owners will be compensated.

The FSC has requested insurance companies to assign dedicated employees to assist with the process, but doubts remain about the effectiveness of this measure. Insurance companies are also worried about preventing fraudulent claims.

The government has pledged to reimburse the full insured amount for irreversibly damaged vehicles, but repairable vehicles will only receive the amount assessed by the FSC for repairs.

Additionally, the issue of “loss of use” for owners who are unable to use their damaged cars has not been adequately addressed.

Those affected are enduring a prolonged period of uncertainty and hope for a timely resolution.

Source: l’Express