'By quick, fast, and just awards, the insurance ombudsman can bring the trust of the policyholders in the insurance system and insurance as a product and create a positive impact on the entire industry.'
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
The Insurance Regulatory & Development Authority of India (Irdai) on Wednesday proposed setting up an internal insurance ombudsman for insurance companies -- except reinsurers-- with over three years of operation, to address unresolved complaints. The ombudsman will have power to hear complaints for claims up to Rs 50 lakhs.
To handle the sudden loss of cashless facility, patients should maintain an emergency fund or a short-term credit line to manage all or part of hospitalisation costs.
If cashless services are suspended, AHPI said, its member hospitals will continue to treat Star Health policyholders, but patients will have to pay upfront and later seek reimbursements directly from the insurer.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Health insurance claims are often denied due to exclusions in policy terms. Buyers frequently overlook the fine print or misinterpret clauses.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Customers frequently sign without reading the terms and conditions, resulting in a poor understanding of coverage, and eventually leading to partial payouts
'The ministry may like to consider setting up an ombudsman similar to electricity ombudsman and insurance ombudsman, to ensure a time-bound resolution of consumer issues within the airline sector.'
Insurance Ombudsmen are officials, who can solve all your insurance related woes and queries in an efficient and effective manner. Here's how to make the most of this dispensation.
Avoid relying on a bank RM for investment advice. Instead, approach a Sebi-registered investment advisor whose livelihood depends on the fee paid by his customers and not on product commissions.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health and auto insurance related queries.
Is your insurance company taking you for a ride by delaying or repudiating in settling your claim? You need not spend sleepless nights now. The Insurance ombudsman office will take care of the problem.
If you have questions related to online insurance frauds, then Piyush Ranjan, chief technology officer, Coverfox Insurance, will answer your queries.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health insurance related queries.
Since no insurance companies share data on their claims with each other, the finance ministry and Irdai suspect that a lot of the resultant claims are duplicates.
One may now not have to wait to get their insurance claims redressed.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, will answer your queries on HEALTH insurance and AUTO insurance.
Don't panic if your car is stolen because your insurer is liable to pay the full amount as compensation, but you need to keep in mind that your claim should be genuine because most of the insurers try to avoid such claims, says Harjot Singh Narula
A customer can also appoint a surveyor on his own expense
Cost is not the only factor that one should look at. It's best to keep investment and insurance apart
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