Accident with my car (car transferred in my name but haven"t changed insurance policy)?

I have bought car from my company three month back and got it transferred in my name but haven"t changed insurance policy because it was still valid, now I have met with an accident and a person dead. Will insurance pay compensation to the dead person or I have to pay. Please do suggest. As I am facing lot of mental tension because being a normal salaried person.

Got above query thru email @ Hariom Bhardwaj

Insurance transfer rule -

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If you sell or buy car or two wheeler to/from another person, the insurance can be transferred in the name of the buyer. The buyer (transferee) has to apply for transfer of insurance with insurer, within 14 days from the date of transfer of the car in his/her name and after making the payment of endorsement premium for the remaining period of the policy.

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Originally Posted by PolicyWala

I have met with an accident and a person dead. Will insurance pay compensation to the dead person or I have to pay.

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The insurance company will pay to the third party which is dead due to accident with your car, but as the insurance is not transferred, they may claim the amount from you. I am not sure on this.