General Inspection of complaint pertaining to M/s Reliance General Insurance Co Ltd August 2010 Complainant: M/s Nagarsheth Shipbreakers – Complaint No. 674/REL/COMP/09-10 Accidental Death Insurance Claim under Group Personal Accident Policy No.11013829140038 – Violation of Regulations 9(1) and 9(5) of IRDA (PPHI) Regulations 2002
Shri. Rakesh Jain
MD & Chief Executive Officer,
Reliance General Insurance Company Limited.
570, Rectifier House, Naigaum Cross Road,
Next to Royal Industrial Estate,
Wadala (W), Sahakar Nagar,
Mumbai 400 031.
Dear Sir,
Re: General Inspection of complaint pertaining to M/s Reliance General Insurance Co Ltd August 2010 Complainant: M/s Nagarsheth Shipbreakers – Complaint No. 674/REL/COMP/09-10 Accidental Death Insurance Claim under Group Personal Accident Policy No.11013829140038 – Violation of Regulations 9(1) and 9(5) of IRDA (PPHI) Regulations 2002
We draw your attention to your letter 30.05.2012 in regard to your Company’s failure to give clear indication to the insured regarding the procedure for a claim as also undue delay in the settlement of above claim. The competent authority has taken serious note of your company’s violation of Regulations 9(1) and 9(5) of IRDA (PPHI) Regulations 2002 in the matter.
While no further charges are pressed for the moment, you are advised to scrupulously adhere to IRDA PPI Regulations 2002 in all matters regarding claims servicing.
The receipt of this letter may be acknowledged.
Yours faithfully,
(Y.Priya Bharath)
Joint Director
