IRDAI Proposes Internal Ombudsman for Insurance Companies

The Indian insurance regulator, IRDAI, wants insurance companies to have their own internal complaint checkers called Internal Insurance Ombudsmen.

These ombudsmen will help customers with unresolved insurance issues.

If you have a problem with your insurance and can't get it solved, the ombudsman can look into it.

The goal is to make sure complaints are handled fairly and quickly, and build trust in the insurance industry.

Insurance companies operating for more than three years must participate.

These ombudsmen will handle claims up to a certain amount of money.

The ombudsman will report to the company's Board or a special committee.