The insurance ombudsman office helps when the insurance company fails to hold their end of the bargain. This is a great place to start the address of your grievances. Since these offices are binding, it is hard for them to find an easy way out. Insurance Regulatory and Development Authority of India issues a circular recently which stated that between April and December of many insurers did not comply with the ombudsman verdict within the 30 days not file an appeal within 60 days. The officials said that failure to meet deadlines severely undermines the grievance redressal framework.
The commitment made during a meeting not being honored is a cause for concern as it shows the lapses in the system but also causes stress to the policyholder too. They lose their faith in the system day by day and have to grind themselves daily to get their own money.
If you have received the short end of the stick, you must persevere. The ombudsman office can delay the payment, but they are in no position to stop your payment as it is binding. You may have to endure the process a little longer, but if things get out of hand, you can always approach the IRDAI, and they will surely support you in this.
The last but not least option is to go to the consumer courts and file a complaint against the Insurance Firm. This is a sure shot way of getting your voice heard and this will make theInsurance Company take you more seriously. This approach is best left as a last resort when things aren’t going your way at all.
Also Read Our Latest Blog: Things That You Should Know To Protect Yourself By Pan Card Fraud — Alankit Ltd
The commitment made during a meeting not being honored is a cause for concern as it shows the lapses in the system but also causes stress to the policyholder too. They lose their faith in the system day by day and have to grind themselves daily to get their own money.
If you have received the short end of the stick, you must persevere. The ombudsman office can delay the payment, but they are in no position to stop your payment as it is binding. You may have to endure the process a little longer, but if things get out of hand, you can always approach the IRDAI, and they will surely support you in this.
The last but not least option is to go to the consumer courts and file a complaint against the Insurance Firm. This is a sure shot way of getting your voice heard and this will make theInsurance Company take you more seriously. This approach is best left as a last resort when things aren’t going your way at all.
Also Read Our Latest Blog: Things That You Should Know To Protect Yourself By Pan Card Fraud — Alankit Ltd
