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Raise A Complaint Against Insurance Provider With Insurance Ombudsman

Posted Date: Sat Jul 2016

Insurance has become a necessity in our lives. Be it car insurance, travel insurance or health insurance, these all give us a peace of mind and safeguard our valuables and loved ones against any possible mishaps. Though we all expect to never run into any sort of accidents and end up having to claim insurance however accidents are a part of life and sometimes we have no other option but to reach the insurance provider to file a claim.

Insurance companies tout their services and features to be the best in class but as it’s said that actions speak louder than words and sometimes these service providers end up disappointing us with offering less than promised and are unsatisfactory in terms of quality of service and claims get rejected on an unfair basis and the policy holder is left in a whirlpool of worries. We must however mention that it’s not guaranteed that all claims will be honored and sometimes a claim is rejected on solid grounds however this write up deals with what a policy holder should do incase his/her claim is rejected on unfair basis.

What should I do next?

Here’s where Federal Insurance Ombudsman comes into place. It’s a governmental department that has collaborated with Insurance Association of Pakistan as per Security Exchange Commission of Pakistan’s directives and has made three small dispute resolution committees which are based in major cities of Pakistan i.e. Karachi, Lahore and Islamabad. These committees include a chartered accountant, a lawyer and a representative of the Insurance Association of Pakistan. These teams expeditiously address the grievances of consumers who are victims of unfair insurance policies. What’s best is that they work free of charge and you don’t need to hire any lawyer either because there’s already one in the dispute resolution committee. So you might be thinking, how can I raise my voice with the Federal Insurance Ombudsman and more importantly what’s the right way to do so? To know all about this, follow the steps given below properly and your complaint shall be acknowledged in the best possible way!

Step 1: Approach your insurance provider first

If you have filed a claim with your insurance provider but have not received proper remuneration or assistance and you believe you are a victim of unfair practices then the first thing is to send a written notice to the insurance provider mentioning your issues and letting them know how they have not been addressed in the most satisfactory way. Additionally let them know that you hope that this written submission will be acknowledged otherwise you plan to take the matter up with the Federal Insurance Ombudsman. Give your insurance provider a time period of 30 days/1 month to revert back to you on the said matter.

Step 2: Take your matter up with Federal Insurance Ombudsman

If even after sending a written notice, the insurance company has failed to provide you a satisfactory solution to your problem after the passage of one month, then it’s time to take up your concern with the Federal Insurance Ombudsman. Do keep in mind that this should be done within a maximum of three months. This can be done in the following ways: a) Online: The Federal Insurance Ombudsman website has an online complaint form which can be filled and submitted by visiting http://www.fio.gov.pk/complaint.html b) Mail: Write a written complaint on affidavit providing all the details about the dispute and attaching any proofs as well as a copy of the written notice sent earlier to your insurance provider. You should also mention all your relevant contact details including address, phone number etc. You should make three sets of the required paperwork.  These should be sent to the address given below: Mr. Muhammad Raeesuddin Paracha Federal Insurance Ombudsman Federal Insurance Ombudsman Secretariat 2nd Floor, Pakistan Red Crescent Society Annexe Building Plot # 197/5, Dr. Daud Pota Road Karachi – Pakistan. Phone: 021-99207761-62 Website: www.fio.gov.pk For guidance on matters regarding insurance, one can also write to the Insurance Division of the Securities and Exchange Commission of Pakistan at following address:

Securities and Exchange Commission of Pakistan, Insurance Division, 63-Jinnah Avenue, Blue Area, Islamabad, PAKISTAN. Website: www.secp.gov.pk

Finally, always follow these precautionary measures while dealing with insurance matters:

1) Read and understand the terms & conditions properly before investing in an insurance policy. 2) Never hide any required information or provide false information. It will work against you if you ever become a victim of unfair rejection of your claim. 3) Always deposit your premium by cheque in the name of the insurance provider. 4) Always buy the policy from an authorized agent of the insurance company and visit their nearby office to double check for anything that might differ as promised earlier over the telephone or internet. 5) Always keep your legal heirs well informed about the details of your insurance policies. Insurance can turn out to be a blessing and thus we hope to educate our readers so they can fully enjoy the benefits and features.