Bajaj Allianz advised to follow policy-holder protection rules

Last Updated: Mon, Jan 07, 2013 16:00 hrs

Chennai, Jan 7 (IANS) India's insurance regulator has strongly advised the Pune-based private general insurer Bajaj Allianz General Insurance Company to strictly adhere to its Protection of Policyholders' Interest (PPI) Regulations while servicing a claim.

In a letter to Bajaj Allianz General's CEO Tapan Kumar Singhel, Insurance Regulatory and Development Authority (IRDA) joint director Yegnapriya Bharath said: " are specifically advised to scrupulously adhere to IRDA PPI Regulations 2002 in all matters regarding claims servicing. The competent authority has also directed that systems be put in place in your company to the effect that all claim papers/documents are properly docketed."

The letter dated Dec 31 - uploaded on IRDA's website Monday - was in response to a policyholder's complaint relating to delay in settling his vehicle insurance claim.

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