Page 73 - IC24 LEGAL ASPECTS OF LIFE ASSURANCE
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settlement of the claims under general insurance and life
insurance policies.
The Ombudsman will be disposing off the complaint in the first
instance through mediation and shall make recommendation
The complainant has option to accept or reject the
recommendations. If accepted by him, the insurer has no option
but to comply with them within 15 days failing which
Ombudsman shall pass a speaking Award.
Extra Resources
Consumer Protection Act, 1986
The Consumer Protection Act, 1986 was enacted to provide a simpler
and quicker access to redress of consumer grievances. The Act seeks
to promote and protects the interest of consumers against
deficiencies and defects in goods or services. It also seeks to secure
