Claim Consultancy Services
Insurance Regulatory and Development Authority of India through its circular no. IRDA/BRK/CIR/GLD/270/12/2011 has allowed the Licensed Insurance Brokers to provide claim consultancy to a client. We at CRI through our experience of more than 2 decades of managing claims are well equipped to offer this service to a client.
If you are an aggrieved customer who needs claim assistance be it in a property insurance matter or marine or liability, please feel free to contact us for the expert advice on claim settlement.
- Broking companies may offer claim consultancy for claims not exceeding Rs.1 crore provided such claim does not emanate from a policy which has been placed by any other broker.
- Before offering consultancy, the broker shall obtain a written mandate from the client to represent the client with the insurer concerned for the claim for which consultancy has been sought by the policyholder and offered by the broker.
- The insurance broker may charge fee for such services as may be mutually decided between the broker and the policyholder. However, such fee shall not be expressed as a percentage of the claim.
- The broker shall, in all his dealings with such clients, be governed by the provisions of Code of Conduct as specified in Schedule 3 of the IRDA (Insurance Brokers) Regulations, 2002.
- Any dispute between two or more brokers arising out of such consultancy arrangements shall, in the first instance, be considered by the Insurance Brokers Association of India (IBAI) and thereafter the IBAI shall forward the substance of such dispute together with its recommendation to the IRDA for final disposal.