BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Delay in settlement of claims, beyond the time specified in the regulations, framed under the Insurance Regulatory and Development Authority of India Act, 1999
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Any partial or total repudiation of claims by the life insurer, General insurer or the Health insurer
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Disputes over premium paid or payable in terms of insurance policy
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All of the above
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Detailed explanation-1: -Delay in settlement of claims. Any partial or total repudiation of claims by the life insurer, general insurer or health insurer. Disputes over premium paid or payable in terms of insurance policy. Misrepresentation of policy terms and conditions at any time in the policy document or policy contract.
Detailed explanation-2: -Thanks to the Integrated Ombudsman Scheme, consumers who have complaints against a Reserve Bank of India (RBI) regulated entity (like a bank or NBFC) now have a single point of reference to file complaints, submit documents, track the status of complaints and receive feedback.
Detailed explanation-3: -Complaints pertaining to repudiation of claims totally or partially, delay in settlement of claims, any dispute on the legal construction of the policies in so far as such disputes relate to claims, disputes regarding premiums paid / payable and non-issue of insurance documents.
Detailed explanation-4: -You can approach the Ombudsman with complaint if: a Delay in settlement of claims, beyond the time specified in the regulations, framed under the IRDAI Act, 1999. bAny partial or total repudiation of claims by the Life insurer, General insurer or the Health insurer.