Insurers become more efficient in settlement of travel claims

Non-life insurance companies are witnessing rise in claim settlement within one month of claim registration for overseas travel insurance policies. Out of the total 4,602 claims settled by seven general insurers in the April–June quarter of the financial year 2012-13 (Q1FY13), 47.9 per cent, or 2,205 claims were settled within one month. In the same period last year, these insurers settled 5,796 claims, out of which 43.7 per cent, or 2,535 claims were settled within one month.

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Insurance Claim: Complaints-Insurance mis-selling tops

Mis-selling of insurance policies and delay in claim settlements top the list of 2,341 complaints lodged by aggrieved customers with the  Chandigarh Insurance Ombudsman.

“We have received maximum complaints against insurance companies pertaining to mis-selling of insurance products followed by delay  in settlement of claims,” an official of Insurance Ombudsman said here.

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