GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the maximum claim amount for an Insurance Ombudsman complaint?
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5 lakh
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10 lakh
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15 lakh
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20 lakh
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Explanation:
Detailed explanation-1: -9) Is there any maximum limit for the amount under dispute that can be entertained by the Insurance Ombudsman? Our Response : The Insurance Ombudsman can entertain complaints where the compensation awarded does not exceed rupees Thirty Lakhs (including relevant expenses, if any).
Detailed explanation-2: -Firstly, the ombudsman entertains only complaints where the amount under dispute is less than ₹30 lakh. It should pertain to policies issued under personal lines of insurance, group insurance policies, and policies issued to sole proprietorships and micro-enterprises.
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