Now Reading: Finance Ministry sets 14-day route for insurance complaints
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Finance Ministry sets 14-day route for insurance complaints
The Department of Financial Services under the Finance Ministry has issued guidelines for policyholders facing unfair claim rejections, delays, mis-selling or other service issues. Policyholders must first approach the insurer’s grievance redressal…
The Story in Brief
The Department of Financial Services under the Finance Ministry has issued guidelines for policyholders facing unfair claim rejections, delays, mis-selling or other service issues. Policyholders must first approach the insurer’s grievance redressal officer. Insurers must register complaints in their Complaints Management System, acknowledge them immediately and provide a resolution within 14 days, the department said.
If the insurer does not respond within 14 days, or the policyholder is dissatisfied, the complaint can be taken to the Insurance Regulatory and Development Authority of India’s Bima Bharosa Portal. Complaints can also be filed through IRDAI helplines 155255 and 1800-4254-732, or by email at [email protected]. The helpline provides support in 12 languages.
The Indian Opinion
Claims advice is often reduced to the exaggerated idea that insurers routinely deny every genuine claim, or the equally lazy belief that filing a complaint guarantees payment. Neither follows from these guidelines. The useful change is a clear paper trail, with a 14-day response deadline and an escalation route. Policyholders should preserve policy documents, notices and correspondence. The real test will be how many complaints receive reasoned resolutions within those 14 days, rather than automatic acknowledgements.
Source: livemint.com
This story was synthesised by AI from the source linked above.
