The Consumer Ministry has asked insurance companies to improve in 6 ways. In fact, the ministry has done this whole exercise to stop the mis-selling of insurance.
Insurance
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Consumer Ministry to reduce cases related to insurance in Consumer Commission (Consumer Ministry) Has issued guidelines to insurance companies. The Consumer Ministry has asked insurance companies to improve the process of selling insurance. Consumer Affairs Secretary Rohit Singh said that after meeting on various aspects, we have issued guidelines. The Consumer Ministry has asked insurance companies to improve in 6 ways. In fact, the ministry has done this whole exercise to stop the mis-selling of insurance.
These are the guidelines of the ministry
- Companies will have to simplify their application form
- Will have to insist on the rule of pre-disclosure
- Have to give powers to their officers to settle cases
- At present, more than 5.50 lakh cases are pending in the Consumer Commission.
- Most of these cases are pending related to insurance.
- More than 1 lakh 60 thousand cases related to insurance are pending
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