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Title: Warning
Reference No.: 4/CA/Insp/NL/2010-11
Date: 19/10/2010
Non-Compliance of provisions of IRDA (Protection of Policyholders~ Interest
Shri. G. Srinivasan
Chairman-cum-Managing Director
M/s. The United India Insurance Co. Ltd.,
24, Whitees Road
CHENNAI – 600 014
Sub: Notice to show cause – Non Compliance of provisions of IRDA (Protection of Policyholders’ Interests) Regulations 2002 - Complaint of Mr.Sanjeev Kumar Varma, M/s National Surgicals against United India Insurance Co Ltd - Complaint Ref.1525 /UII/ COMP/09-10
Your reply dated 25.8.2010 in response to our Show Cause Notice dated 2nd August, 2010 has been examined by the Authority. The following violations by your Company are confirmed.
i. Regulation 7 of IRDA (Protection of Policyholders’ Interests) Regulations, 2002 for not keeping the insured informed of the action to be taken by him upon occurrence of a contingency likely to give rise to a claim under the policy.
ii. Section 102 of the Insurance Act for not properly responding to the Authority’s letter on the subject matter.
A serious view has been taken by the Authority on the above violations. However, taking into account the remedial measures taken by your Company against the TPA M/S Alankit Healthcare TPA Ltd, no further charges are pressed.
The Authority shall take a more serious view on such complaints reported against your Company in the future.
The receipt of this letter may be acknowledged.
Yours faithfully,
Sd/-
(A.Giridhar)
Executive Director
