Insurance Governing Bodies - Insurance Ombudsman

Insurance Governing Bodies - Insurance Ombudsman

The Governing Body of Insurance Council (GBIC) has been established  under Redressal of Public Grievances Rules 1998, to set-up and facilitate the Institution of Insurance Ombudsman in India.
The Governing Body of Insurance Council consists of one representative each from all insurance companies; the representative is required to be either the  Chairman or Managing Director or a Director of the company represented.

The Redressal of Public Grievances Rules 1998 (RPG Rules – 1998) contain provisions in respect of appointment and office term, etc for Insurance Ombudsman and also include stipulations in respect of staffing and administration of Ombudsman Centre, powers of Ombudsman, manner of lodging complaint and disposal of complaint by Ombudsman either by way of Recommendation or Award. Miscellaneous Provisions of the notification relate to constitution of Advisory Committee, submission of annual report, etc.
Insurance Ombudsmen are appointed by the Governing Body and are empowered to entertain complaints on the following aspects in respect of personal line insurances:
  • Any partial or total repudiation of claims by an insurer.
  • Any dispute in regard to premium paid or payable in terms of the policy.
  • Any dispute on the legal construction of the policies in so far as such disputes relate to claims.
  • Delay in settlement of claims.
  • Non-issue of any insurance document to customers after receipt of premium.
http://www.gbic.co.in/

Just for Information.

Insurance is the subject matter of solicitation.
Beware of spurious phone calls and fictitious/fraudulent offers. IRDA Clarifies to public that IRDA or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.
IRDA does not announce any bonus. Public receiving such phone calls are requested to lodge police complaint along with details of phone call, number.

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