IOR Section 7 : Selection Committee for appointment of Insurance Ombudsman

Explanation using Example

Example 1: Appointment of an Insurance Ombudsman for a New Territory

Introduction: The Council for Insurance Ombudsmen decides to appoint a new Insurance Ombudsman for a newly defined territorial jurisdiction in the northern region of the country. This decision is based on the increasing number of insurance complaints in that area.

Application: According to Section 7, Sub-rule (1) of The Insurance Ombudsman Rules, 2017, the Council is responsible for appointing an Insurance Ombudsman for the specified territorial jurisdiction. The Selection Committee, as outlined in Sub-rule (2), is convened to recommend a suitable candidate. The committee includes members such as the Chairperson of the Authority and individuals from the Financial Services Institutions Bureau.

Outcome: The Selection Committee reviews applications and recommends a candidate with extensive experience in consumer protection within the insurance sector. The Council appoints this candidate as the Insurance Ombudsman for the new territory. This ensures that insurance disputes in the region are addressed efficiently, improving consumer satisfaction.

Conclusion: Compliance with the selection process as per the rules ensures transparency and fairness in the appointment, enhancing the credibility of the Insurance Ombudsman s...

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