Multiple choice

If the claim could not be settled for want of proper identification of a payee, the insurer shall pay interest at the rate of

  1. savings bank account

  2. bank interest + 2%

  3. 5%

  4. 10%
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A Correct answer
Explanation

If the claim could not be settled for want of proper identification of a payee, the insurer shall pay interest at the rate of savings bank account.

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