Soon, you may be able to submit and track the status of your complaints lodged with any office of the insurance ombudsman via an online platform. On 22 December, the finance ministry issued a draft Insurance Ombudsman (Amendment) Rules, 2020, to amending the 2017 Insurance Ombudsman Rules. Under the new rules, the Council for Insurance Ombudsmen will take over the duties of the Executive Council of Insurers. What is an insurance ombudsman? An insurance ombudsman is created for individual policyholders to have their complaints settled out of the court's system in a cost-effective, efficient and impartial way.

Source: Mint December 25, 2020 10:18 UTC