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#2
27th September 2017, 03:17 PM
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| Re: Turnaround Time IRDA
As you Asking for the Information About the Turnaround Times As Mention in the Guidelines For Grievance Redressal By Insurance Companies IRDA the Detials Are Shown below Further to Regulation 5 of IRDA Regulations for Protection of Policyholders Interests, 2002 . The IRDA hereby issues the following guidelines pertaining to minimum time-frames and uniform definitions and classifications with respect to grievance redressal by insurance companies. Turnaround Times: There are two types of turnaround times involved. (i). The service level turnaround times, which are mapped to each classification of complaint (which is itself based on the service aspect involved). (ii). The turnaround time involved for the grievance redressal. As to (i), the TATs are as mapped to the classification and prescribed by the Authority to insurers. These TATs reflect the time-frames as already laid down in the IRDA Regulations for Protection of Policyholders Interests and more, as, wherever considered necessary( for certain service aspects not getting specifically reflected in the Regulations), specific TATs are indicated in the classification and mapping provided by the Authority. As regards (ii) above, the minimum TATs required to be followed shall be as prescribed in guideline 4 (a) to (g) as prescribed above Closure of grievance: A complaint shall be considered as disposed of and closed when (a). the company has acceded to the request of the complainant fully. (b). where the complainant has indicated in writing , acceptance of the response of the insurer. (c). where the complainant has not responded to the insurer within 8 weeks of the companys written response. (d) where the Grievance Redressal Officer has certified that the company has discharged its contractual, statutory and regulatory obligations and therefore closes the complaint Turnaround Times As Mention in the Guidelines For Grievance Redressal By Insurance Companies IRDA    |