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Articles 1735 views March 20, 2020
The ombudsman scheme in insurance is an important scheme that every person should be aware of. An ombudsman is an authority appointed by the IRDA. There are 17 insurance ombudsmen spread out all across the country. The duty of an ombudsman primarily includes solving disputes between the policyholders and the insurance companies. This is a very important and useful scheme to know and use whenever there is a dispute.
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You can use the ombudsman scheme in insurance to address any of the following issues:
The insurance ombudsman can only resolve issues that an individual raises for problems faced by him/her related to his/her own policy and not any group insurance policy. The concerns may be related to a life insurance plan or a general insurance plan.
You can make use of the ombudsman scheme in insurance when you have the following problems to resolve:
Feel free to contact an insurance ombudsman if you face any of these issues.
Working as a mediator between you, the policyholder, and the insurance company the ombudsman assess both sides of the story and then passes a judgement. If the insurance company is indeed found to be engaging in foul play, it is served a notice and asked to pay the policyholder what is due. If, after completing the case study, the ombudsman finds the insurance company to be fair and within the rules, the policyholder is informed and the case is closed.
All matters are settled within three months of the complaint being filed. If a ruling is passed against an insurer, the company has to comply with it within 30 days.
The IRDA is the insurance regulatory body in India. It works very sincerely to ensure the insurance companies do not cheat their clients and that all the policyholders in India get the correct and best value out of their insurance covers. The ombudsman scheme in insurance goes a long way to assure this happens.