Principles of Insurance Exam Study Notes

Insurance Ombudsman - The government body has appointed twelve ombudsmen across the country and allotted them different geographical areas as their areas of jurisdiction, A person can lodge a complaint with ombudsman if the complaint has been rejected or not addressed satisfactorily or not replied to by the insurer.
Nature of complaint to Ombudsman - Any partial or total repudiation of claims by insurance companies, Any dispute with regard to premium paid or payable in terms of the policy, Delay in settlement of claims, Any dispute on the legal construction of the policy wordings in case such dispute relates to claims, Non-issuance of any insurance document to customers after receipt of premium
Under the Insurance Regulatory and Development Authority of India (I.R.D.A.I.) Grievance Redressal Mechanism, Customers can dial 155255, which is, a Toll-Free Number, or email complaints@irda.gov.in, and register their Complaint, against Insurance Companies.
Institutes, like, Insurance Institute of India, Institute of Actuaries of India, Indian Institute of Surveyors and Adjusters, and Many Other Institutes provide Insurance-Training and Services, as Associateship Diplomas and Fellowship Diplomas, and Various Other Programmes.
Agents - Agents have to obtain licence from IRDA which is vaild for three years after which it needs to be renewed, Should meet the eligibility criteria, Individuals as well as corporate bodies like banks, firms, companies etc. can are allowed to become agents.

Licentiate Examination - IC 01 - Principles of Insurance Exam - Important Points