Page 443 - IC38 GENERAL INSURANCE

8. Other dispute resolution mechanisms

As per IRDA regulations, all policies have to mention about the grievance
redressal system available to the insured in the event the insured is dissatisfied
with the service of the insurer for any reason.

In case of claims under personal lines of business, a dissatisfied insured can
approach the ombudsman, the details of whose office are provided in the
policy.

Test Yourself 1

Which of the following activities would not be categorised under professional
settlement of claims?

I. Seeking information relating to the cause of the loss
II. Approaching the claim with a prejudice
III. Ascertaining whether the loss was a result of an insured peril
IV. Quantifying the amount payable under the claim

Test Yourself 2

Raj is involved in a car accident. His car is insured under a motor insurance
policy. Which among the following is the most appropriate thing for Raj to do?

I. Notify the insurer of the loss as soon as reasonably possible
II. Notify the insurer at the time of insurance renewal
III. Damage the car further so as to receive a bigger compensation
IV. Ignore the damage

Test Yourself 3

Compare claims investigation and claims assessment.

I. Both claims investigation and assessment are the same thing
II. Investigation tries to determine the validity of the claim whereas

assessment is more concerned with the cause and extent of the loss
III. Assessment tries to determine the validity of the claim whereas

investigation is more concerned with the cause and extent of the loss
IV. Investigation is done before the claim is paid and assessment is done after

the claim is paid

Test Yourself 4

Who is the licensing authority for surveyors?

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