New IRDAI grievancemechanism: Will it work?

Riju Mehta August 04, 2025
In a bid to bolster the grievance redressal mechanism in the insurance sector, the Insurance Regulatory and Development Authority of India (IRDAI) has proposed the creation of internal insurance ombudsmen for all insurers. This is because notwithstanding the perceived benefits of insurance, the industry is plagued by consumer complaints. According to the annual report of IRDAI, its Bima Bharosa portal registered 2,15,569 grievances in 202324,

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