Insurance Ombudsman offices across the country have started receiving complaints from policyholders related to compensation claims up to Rs 50 lakh.
Earlier, these offices were allowed to take complaints related to claims up to Rs 30 lakh. Insurance Ombudsman officials and people associated with this industry had demanded to increase this limit. The reason for this is that now many policyholders buy term insurance, health insurance, critical insurance and personal accidental insurance with sum assured of more than Rs 1 crore.
A study by Policybazzar has revealed that in the financial year 2022-23, rich people showed more interest in buying a policy with a cover of Rs 1.75 crore. There are many reasons for this. People’s income is increasing. Awareness regarding insurance products is increasing. Policyholders who cannot lodge their complaints with the Insurance Ombudsman have to approach the Consumer Court.
Complaints will be resolved soon
Shilpa Arora, Chief Operating Officer of Insurance Samadhan, a company that helps policyholders, said, “The decision to increase the limit of complaints is welcome. This will also help in resolving complaints related to higher value claims. First, for this, policyholders have to go to the consumer court.
” It used to take 1-2 years to resolve the complaints. In the Ombudsman office, the complaints are resolved in three months.” However, many people believe that it is still better for the policyholder to approach the consumer court directly. Experts also say that the complaints of policyholders are more likely to be resolved satisfactorily in the consumer court.
Complaints can also be made online
Policyholders need to understand that if their claim is rejected, they can complain to IRDAI and the Ombudsman offices of their city. Complaint can also be made online. For this you have to go to www.cioins.co.in/Complaint/Online. It is necessary to file a complaint within one year of the claim being rejected.
Before complaining to the Insurance Ombudsman office, the policyholder can inform the insurance company about his complaint. After this he will have to wait for 30 days. If there is no response from the insurance company then one can complain to the Ombudsman office. The Ombudsman Office is required to dispose of the complaint within 90 days.
The path of appeal is open in the consumer court
If a policyholder is not satisfied with the decision of the Ombudsman Office, he can appeal to the Consumer Court. Insurance companies are required to comply with the Ombudsman’s decision within 30 days. If this does not happen, the policyholder can inform the Ombudsman office. In such a situation, insurance companies may have to pay interest.
