Ombudsman Rules Sharpen Jurisdiction, But Capacity & Delays Persist

banking
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Moneycontrol•15-12-2025, 17:15
Ombudsman Rules Sharpen Jurisdiction, But Capacity & Delays Persist
- •Draft amendments to Insurance Ombudsman Rules, 2017, clarify jurisdiction and expand coverage to include insurance brokers.
- •Industry practitioners express concerns that the amendments fail to address structural issues like delays, capacity, and digital upgrades.
- •The proposed changes do not revise compensation caps or introduce measures for faster grievance disposal.
- •Lack of provisions for technological upgrades and increased ombudsman capacity raises fears of the system being overwhelmed.
Why It Matters: Policyholders may still face delays despite new insurance ombudsman rules.
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