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Report No. 190 Other mechanisms 8.7.6 Apart from the above mechanisms, at present a large number of complaints are being filed by dissatisfied policyholders under the Consumer Protection Act, 1986 alleging deficiency of service when either a claim is not settled or only partially settled. An analysis of the decisions rendered by the various consumer fora would reveal that a number of cases under this subject is growing by the day and the consumer fora are called upon frequently to interpret the provisions of the Insurance Act 1938. However, on account of the large number of other cases that are pending decision before the consumer fora, this remedy is no longer a speedy or efficient one. 8.7.7 Further, although there is some mechanism, as spelt out in the above Rules and Regulations in so far as the grievances of policyholders are concerned, there is no effective mechanisms as regards insurers vis-à-vis the IRDA. This also will have to be taken into account while suggesting a suitable grievance redressal machinery.    |
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