Policyholders’ Protection

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....ses. (2) Every IIO and IIIO shall formulate a policy, duly approved by its Board, for protection of interest of the policyholders; (3) Such policy shall, inter-alia, include the following - (a) steps to be taken for enhancing insurance awareness so as to educate policyholders about insurance products, benefits and their rights and responsibilities; (b) provisions to ensure ....

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....solution of complaints; (h) standard procedures and best practices in the sale and service of insurance policies; (i) simple and transparent claims settlement procedures. (4) Every IIO shall display the service parameters and turnaround times, as approved by its Board, on its website and keep the same updated as and when these are revised by the Board. (5) The approved poli....