Archive · 24 Jul 2025
IRDAI Introduces Internal Insurance Ombudsman for Policyholder Protection
The insurance regulator in India, IRDAI, is creating a new system called the Internal Insurance Ombudsman.
This is like having a special helper inside each insurance company to solve problems when customers are unhappy.
This new helper will look at complaints that haven't been solved yet.
The goal is to make sure complaints are handled fairly and quickly.
This ombudsman will be independent and report to the company's board, but they'll be impartial.
The public can share their opinions on these new rules before August 17th.
IRDAI is introducing Internal Insurance Ombudsman in all insurance companies (except reinsurers).
The framework mandates an independent review mechanism to address unresolved complaints.
Internal Insurance Ombudsman will address claims up to ₹50 lakh.
The Ombudsman will report to the Board or its Policyholder Protection Committee.
Stakeholders can submit comments on the draft guidelines by August 17.
- Who
- Insurance Regulatory and Development Authority of India (IRDAI)
- What
- IRDAI is introducing Internal Insurance Ombudsman.
- When
- Stakeholders can submit comments on or before August 17.
- Where
- India
- Why
- To strengthen policyholder protection and enhance trust.
- Regulatory Body
- IRDAI
- Applies To
- All insurers (except reinsurers) with more than three years of operations
- Complaint Limit
- Up to ₹50 lakh
- Reporting Structure
- To the Board or its Policyholder Protection, Grievance Redressal and Claims Monitoring Committee
- Comment Deadline
- August 17