AXA Singapore withdraws insurance coverage of PRC Ferrari driver Ma Chi
Posted by temasektimes on September 5, 2012
Ma Chi caused a fatal accident at Bugis in May this year when his Ferrari beat the red light and crashed into a taxi, killing the driver Cheng Teck Hock and the passenger Shigemi Ito.
AXA first informed the Ma family of its decision to reject liability earlier this year, prompting the family to file a lawsuit against it.
In a counter-claim filed by AXA, its lawyers xplained that the collision was not considered an “accident” under its insurance policy as Ma had driven the car “at an extremely excessive speed, far above the road speed limit of 60km/h.”
They also noted that Ma failed to stop at the junction despite the lights showing red, failed to stop or slow down to avoid the collision, and collided into the taxi resulting in the taxi hitting a motorcycle.
“Ma’s conduct was so clearly reckless and dangerous that it was not a risk intended to be covered under the insurance policy…He was doing an act which he knew or ought to have known was courting imminent death to himself and others.”