Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous apex statutory body which regulates and develops the insurance industry in India.

Role and functions of IRDA:

It issues the registration certificates to insurance companies and regulates them.
It protects the interest of policy holders.
It provides license to insurance intermediaries such as agents and brokers after specifying the required qualifications and set norms/code of conduct for them.
It promotes and regulates the professional organisations related with insurance business to promote efficiency in insurance sector.
It regulates and supervise the premium rates and terms of insurance covers.

About IRDA Ombudsman:

Insurance Ombudsman’s offices have been established in many cities all over India, each with its own jurisdiction.

You have to approach the Ombudsman under whose jurisdiction the insurance company office against whom you are making a complaint falls.

The Powers of Ombudsman:

(a) Any partial or total repudiation of claims by an insurer;

(b) Any dispute in regard to premium paid or payable in terms of the policy;

(c) Any dispute on the legal construction of the policies in so far as such disputes relate to claims;

(d) Delay in settlement of claims;

(e) Non-issue of any insurance document to customers after receipt of premium.

Contact:

DELHI
Office of the Insurance Ombudsman,
2/2 A, Universal Insurance Building,
Asaf Ali Road,
New Delhi – 110 002.
Tel.:- 011-23239611/7539/7532
Fax:- 011-23230858
Email:- bimalokpal.delhi@gbic.co.in