What does BNM require insurers to tell policyholders about NCD?

Question

## BNM requires insurers to tell policyholders that an OD-KfK claim will not affect their No-Claims Discount.

Accepted Answer

BNM’s Claims Settlement Practices Policy Document says general insurers and takaful operators must explain that a policyholder’s No-Claims Discount, or NCD, remains unaffected if an Own-Damage Knock-for-Knock claim is submitted. They are also required to advise policyholders on the benefits of making that claim, including faster processing and a simpler repair process.

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What does BNM require insurers to tell policyholders about NCD?

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