Govt Amends Insurance Ombudsman Rules, Strengthens Mechanism To Protect Policyholders' Interests
by Swarajya Staff - Mar 3, 2021 05:27 AM
Ministry of Finance. (GettyImages)
The government on Tuesday (2 March) notified comprehensive amendments to the Insurance Ombudsman Rules, 2017 with a view to improve the working of the Insurance Ombudsman mechanism to facilitate resolution of complaints regarding deficiencies in insurance services in a timely, cost-effective and impartial manner.
The amended rules have enlarged the scope of complaints to Ombudsmen from only disputes earlier to deficiencies in service on the part of insurers, agents, brokers and other intermediaries.
Further, insurance brokers have been brought within the ambit of the Ombudsman mechanism, by empowering the Ombudsmen to pass awards against insurance brokers as well.