Insurance policy holders can now make e-complaints


Insurance policy holders will now be able to make complaints electronically and track its status online, as the government has amended the Insurance Ombudsman Rules 2017.

In a statement, the finance ministry said under the amended rules, the timeliness and cost-effectiveness of the redressal mechanism has been strengthened.

The new rules notified through an official gazette also pave way for setting up a complaints management system to enable policyholders to track the status of their complaints online.

Further, the ombudsman may use video-conferencing for hearings. The ombudsman mechanism was administered by the Executive Council of Insurers, which has now been renamed as the Council for Insurance Ombudsman. As per IRDAI annual report for FY20, banks and brokers received close to 10,000 mis-selling complaints each.





READ SOURCE

READ  Pound Euro exchange rate falls as BoE warns of global ‘rut’

LEAVE A REPLY

Please enter your comment!
Please enter your name here