General Inspection of complaint pertaining to M/s ICICI Lombard General Insurance Company

General Inspection of complaint pertaining to M/s ICICI Lombard General Insurance Company Ltd., Noida  November, 2010; Complainant: M/s. Tara Jewels Pvt. Ltd.  Complaint No.1319/ICINL/COMP/09-10  Trade Credit Insurance Claim under Policy No. 4031/0000001/02(E24079)  Violation of Regulations 5 of IRDA PPHI Regulations 2002

Shri Bhargav Dasgupta

MD & Chief Executive Officer

ICICI Lombard General Insurance Company Ltd.

ICICI Lombard House,

414, Veer Savarkar Marg,

Near Siddhi Vinayak Temple, Prabhadevi,

Mumbai  400 025

Dear Sir,

Re: General Inspection of complaint pertaining to M/s ICICI Lombard General Insurance Company Ltd., Noida November, 2010; Complainant: M/s. Tara Jewels Pvt. Ltd.  Complaint No.1319/ICINL/COMP/09-10 Trade Credit Insurance Claim under Policy No. 4031/0000001/02(E24079)  Violation of Regulations 5 of IRDA PPHI Regulations 2002

We draw your attention to your letter of 05.04.2011 explaining the reasons for delay in informing the Authority about the resolution of the complaint. The competent authority has taken serious note of your company’s violation of Regulation 5 of IRDA (PPHI) Regulations 2002 in the matter.

While no further charges are pressed for the moment, you are specifically advised to scrupulously adhere to IRDA PPI Regulations 2002 as well as the IRDAs Grievance Redressal Guidelines ref.3/CA/GRV/YPB/10-11, dated 27.07.2010 in all matters of acknowledging, resolution and proper updating of complaints resolution process.

The receipt of this letter may be acknowledged.

Yours faithfully,

(Yegnapriya Bharath)

Joint Director

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