NEW DELHI: The Central Consumer Protection Authority (CCPA) has written to the Reserve Bank of India (RBI) and the insurance regulator, IRDA to look into complaints of failed transactions but money not reversed, delay in crediting the amount and inordinate time taken in processing of insurance claims.
It has urged the IRDA to take up the issue of addressing consumer grievances with the insurance companies and direct them to adhere to the timelines stipulated in the IRDAI Protection of Policyholders’ Interest Regulations, 2017.
The CCPA wrote to the IRDA and RBI recently after analysing consumer grievances received in the National Consumer Helpline (NCH), which is being run by the consumer affairs department. The CCPA analysed complaints lodged between April and December 20.