IOR Section 8 : Term of Office of Ombudsman
Act
Summary
Section 8 of The Insurance Ombudsman Rules, 2017, outlines the term of office for an Insurance Ombudsman. An Ombudsman serves for three years or until reaching the age of sixty-eight, whichever comes first, and is not eligible for reappointment. Exceptions apply to those in office as of March 2, 2021, allowing them to serve until seventy. The section also details the resignation process, requiring a ninety-day notice, with the Council for Insurance Ombudsmen holding discretion to waive this notice.
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Explanation using Example
Example 1: Appointment and Term Limit of an Insurance Ombudsman
Introduction: Mr. Sharma is appointed as an Insurance Ombudsman on January 1, 2020, at the age of 65. He is curious about how long he can hold this position.
Application: According to Section 8 of The Insurance Ombudsman Rules, 2017, an Insurance Ombudsman holds office for a term of three years or until the age of 68, whichever is earlier. However, since Mr. Sharma was already in office on March 2, 2021, he can continue until he completes his term or turns 70, whichever comes first.
Outcome: Mr. Sharma can serve until December 31, 2022, or until he turns 70, whichever is earlier. If he turns 70 before his term ends, he must retire. This ensures that the office is refreshed with new appointees and maintains a balance between experience and new perspectives.
Conclusion: Mr. Sharma's tenure is governed by the specific provisions of the act, ensuring clarity on the term limits and retirement age.
Example 2: Resignation Process for an Insurance Ombudsman
Introduction: Ms. Kapoor, an Insurance Ombudsman, decides to ...
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