Irda Plas To Set Up Consumer Grievances Bodies

The insurance regulatory body is likely to recommend the setting up of various cells to hear grievances at the regional, zonal and also at the board level. While the regional and zonal level committees will consist of executives of insurance companies, the board level committees will consist of people like retired judges of high courts to hear grievances.

New players in the insurance sector are also expected to appoint an ombudsman, as followed by General and Life Insurance Corporations.