ins laws & regs-3
TRANSCRIPT
8/8/2019 Ins Laws & Regs-3
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Arun Patil
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Ombudsmany Set up in 1998 by GOI to handle complaints of
aggrieved insured persons & their quick disposal
y Appointed by Insurance Council on recommendationsof a Committee of Chairmen of LIC, GIC & GOI rep.
y From insurance industr y/civil services/judiciar y
y 12 Offices at Bhopal, Bhuvaneshwar, Cochin,
Guwahati, Chandigarh, Delhi, Chennai, Kolkata, Ahmedabad, Lucknow, H y derabad & Mumbai
y Pow ers: 1. Conciliation 2. Award making
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Ombudsman (contd.)y Complaints relating to claims, premiums, legal points,
non-issue of polic y etc.
y Up to Rs. 20 lakhy Complaints in writing within 1 y ear
y Award within 3 months
y Binding on insurance companies
y Stead y increase in complaints & disposal shows thatpolic y holders have reposed faith & trust in this s y stem
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Lok Adalat (Peoples Court)y Alternate Dispute Resolution to reduce court burden
y Equal access to justice a constitutional right for all
Indian citizens under Art. 39A y Rooted in historical & cultural Panchayat system
y Act passed in 1987
y Presided over by retd. Juducial official + 2 members
yConciliation & compromise of pending court cases
y Both parties must agree for settlement no fee
y Decision binding on parties no appeal
y Mone y claims, partition, matrimonial, Third part y (MACT)
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Right to Information Act, 2005y Mandates timel y response to citizens requests forGov t. inf ormation
y To promote transparency & accountability in the working of public authorities (corruption?)
y Inf o.= work, documents, records, notes, minutes,tapes, CDs, certified copies
y All public authorities to maintain records of emplo y eessalaries, decisions, powers, minutes, budgets
y Written requests to P.I.O. with fee who will compl y within 30 da y s
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RTI (contd.)y Reasons f or rejection to prov ide inf o. (securit y ,
strategic interests of State, trade secrets, legal bans,
endanger life/propert y , privac y , no public interest)y C.I.C. & State Information Commissioner
y E v aluationof RTI
y Partial success onl y 13% rural & 33% urbans knowabout RTI !!
y Over 75% info-seekers dissatisfied
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FERA 1973now FEMA 1999y FERA violation a criminal offence.FEMA violation a
ci v il offence
y FERA was drasticguilt y unless proven innocenty Liberalized econom y & WTO forces
y RBI to make rules & w ithout its permission nodealing in foreign exchange make or receive pa y ment
outside Indiay Penalty : 3 times sum involved/2 lakh/Rs. 5000 per da y
y Several controversial cases
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Legal aspects in investigations
y Law of land is supreme
y Companies investigations records, statements, witnesses
y Claims Life & non-life
y Fraud
y Accident, home, car, health, propert y , travel
y Some interesting cases
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All the best, legal eagles !
yIgnorance of law is noexcuse either in India orin MET exam