IRDAI has proposed a framework mandating an internal insurance ombudsman scheme for insurance companies to address claim-related complaints up to Rs 50 lakh. This independent review mechanism aims to improve grievance handling and boost consumer confidence. Applicable to insurers with over three years of operation, the ombudsman will report directly to the board.
from Banking/Finance-Industry-Economic Times https://ift.tt/DP7t0JM
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