Business News
Home > Business News
IRDAI asks insurers to honour pending Ombudsman Awards
TIWN
TIWN
PHOTO : TIWN
Chennai, May 27 (TIWN) With 711 awards given by the Insurance Ombudsman yet to be complied with, and 162 of these pending for over a year, sectoral regulator IRDAI on Friday told insurers that non-compliance within the timeframe will be viewed seriously.
The Insurance Regulatory and Development Authority of India (IRDAI) asked the insurers to settle all the Ombudsman Awards pending for more than 30 days without laying any deadline. It should be noted that only individual policyholders can approach the Insurance Ombudsman in connection with a claim settlement.
Add your Comment
Comments (0)
More Business News
- IMF expects India to rev up global growth as China falters, backs Modi government's economic policies
- realme set to shake up market: Launching fastest entry-level 5G smartphone 'C65' under Rs 10k
- India's industrial production accelerates to 5.7pc in Feb
- India records 17 pc jump to become 4th largest exporter of digital services: WTO report
- 300 pc rise in market cap to Rs 400 lakh crore in last 10 years driven by strong economic fundamentals