IOR Section 7B : Procedure and Selection Criteria
Act
Summary
Section 7B of the Insurance Ombudsman Rules, 2017 outlines the procedure and selection criteria for appointing an Insurance Ombudsman. The Council for Insurance Ombudsmen shortlists candidates based on service length and requires detailed personal and professional disclosures. The selection process involves multiple stages, including obtaining opinions from relevant authorities and ensuring no conflict of interest. Final appointments are made after thorough scrutiny and interaction with shortlisted candidates.
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Explanation using Example
Example 1: Selection of Insurance Ombudsman
Introduction: Imagine a scenario where the Insurance Regulatory and Development Authority of India (IRDAI) is in the process of selecting a new Insurance Ombudsman for the region of Maharashtra. The selection process must adhere to the guidelines set out in Section 7B of The Insurance Ombudsman Rules, 2017.
Application: According to Section 7B, the selection of an Insurance Ombudsman involves a transparent and merit-based process. The criteria include the candidate's experience in insurance matters, integrity, and ability to handle complaints impartially. The selection committee, comprising representatives from the IRDAI and the insurance industry, evaluates candidates based on these criteria.
Outcome: If the selection committee follows the prescribed procedure and criteria, the appointed Ombudsman will be well-equipped to handle disputes effectively. However, if the process is not transparent or if the criteria are not adhered to, it could lead to challenges or disputes regarding the Ombudsman's impartiality or competence.
Conclusion: Compliance with Section 7B ensures that the appointed Ombudsman is capable and impartial, fostering trust in the dispute resolution process. Non-compliance could undermine the credibility of the Ombudsman and lead to legal challenges.
Example 2: Filing a Complaint with the Insurance Ombudsman
Introduction:...
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