Licentiate Examination - IC 14 - Regulation of Insurance Business Exam - Important Points
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IRDAI has launched an Integrated Grievance Management System (IGMS) which acts as a central repository of insurance grievance data and as a tool for monitoring grievance redress in the industry.
Consumer Protection Act - District Forum - entertain complaints up to Rs. 20 lakhs, State Forum - exceeds 20 Lakhs upto 100 Lakhs, National Commission - exceeds 100 Lakhs
National Commission has supervisory jurisdiction over State Commission. All the three agencies have powers of a Civil Court.
Complaint under Consumer Protection Act can be filed by the complainant himself or by his authorised agent. It can be filed personally or can even be sent by post. It may be noted that no advocate is necessary for the purpose of filing a complaint. No fee for filing a complaint or filing an appeal
Insurance Ombudsman, by mutual agreement of the insured and the insurer can act as a mediator and counsellor within the terms of reference
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