The Executive Council of Insurers, previously known as Governing Body of Insurance Council (GBIC) has been established under the Insurance Ombudsman Rules.....to set-up and facilitate the Institution of Insurance Ombudsman in India.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The Executive Council of Insurers, previously known as Governing Body of Insurance Council (GBIC) has been established under the Insurance Ombudsman Rules____to set-up and facilitate the Institution of Insurance Ombudsman in India.

A	2015
B	2016
C	2014
D	2017

Explanation:

Detailed explanation-1: -The Ombudsman Insurance Regulations, GN 411of 2013 require that complaints which have been established to be viable should be resolved by way of mediation, reconciliation and arbitration.

Detailed explanation-2: -Further, Rule 13 (1)(b) of The Insurance Ombudsman Rules 2017 provides that the Ombudsman shall receive and consider complaints including of alleged deficiency in performance of an insurer on any partial or total repudiation of claims by the life insurer, general insurer or the health insurer.

Detailed explanation-3: -Complaint is to be lodged with the Insurance Ombudsman under whose territorial jurisdiction the insurer’s office falls, at the address provided in website / insurer communication which includes policy document.

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