IRDAI mandates insurers to submit complaint-related documents promptly to Ombudsmen or face ex-parte orders
The Insurance Regulatory and Development Authority of India (IRDAI) has set strict timelines for insurers to submit documents related to complaints before the Insurance Ombudsmen. Insurers must submit the self-contained note (SCN) and all supporting documents within seven days of receiving a notice from the Ombudsman. Any additional information requested must be furnished within three days. IRDAI has warned that non-compliance will result in the Ombudsman proceeding with the matter ex parte, based on available information, without further delay. This directive aims to address inordinate delays by insurers and ensure that Ombudsmen can finalise findings and pass awards within the stipulated three months.
Key Points
- IRDAI has imposed strict timelines for insurers to submit documents for complaints to Insurance Ombudsmen.
- Insurers must submit the self-contained note (SCN) and all supporting documents within seven days of receiving a notice.
- Failure to comply with these timelines will lead to ex-parte orders by the Ombudsmen.
- The directive aims to reduce delays in complaint resolution and ensure Ombudsmen can pass awards within three months.
Exam Facts
- IRDAI (Insurance Regulatory and Development Authority of India) issued the directive.
- Insurers must submit documents within 7 days and additional info within 3 days.
- Ombudsmen are required to finalize findings and awards within three months, as per Rule 17(4) of the Insurance Ombudsman Rules.
- Executive Director R.K. Sharma noted the concerns.
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