10.6: Complaints escalation and review process
An insurer must establish and maintain an appropriate internal complaints escalation and review process. Procedures within the complaints escalation and review process should not be overly complicated or impose unduly burdensome paperwork or other administrative requirements on complainants. The complaints escalation and review process should – Follow a balanced approach, bearing in mind the legitimate […]
10.5: Categorisation of Complaints
An insurer must categorize reportable complaints in accordance with the following minimum categories: Complaints relating to the design of a policy or related service, including the premiums or other fees or charges related to that policy or service. Complaints relating to information provided to policyholders. Complaints relating to advice. Complaints relating to policy performance. Complaints […]
10.4: Allocation of Responsibilities
The board of directors of an insurer is responsible for effective complaints management and must approve and oversee the effectiveness of the implementation of the insurer’s complaints management framework. Any person that is responsible for making decisions or recommendations in respect of complaints generally or a specific complaint must – Be adequately trained. Have an […]
10.3: Requirements for Complaints Management Framework
The complaints management framework must at least, provide for – Relevant objectives, key principles and the proper allocation of responsibilities for dealing with complaints across the business of the insurer. Appropriate performance standards and remuneration and reward strategies (internally and where any functions are outsourced) for complaints management to ensure objectivity and impartiality. Documented procedures […]
10.2: Establishment of Complaints Management Framework
An insurer must establish, maintain and operate an adequate and effective complaints management framework to ensure the fair treatment of complainants that – Is proportionate to the nature, scale and complexity of the insurer’s business and risks. Is appropriate for the business model, policies, services, policyholders, and beneficiaries of the insurer. Enables complaints to be […]
10.1: Introduction
Complainant means a person who submits a complaint and includes a – Policyholder or the policyholder’s successor in title. Beneficiary or the beneficiary’s successor in title. Person whose life is insured under a policy. Person that pays a premium in respect of a policy. Member of a group scheme. Potential policyholder or potential member of […]
9.12: Claims Received During Periods of Grace
If a claimant submits a valid claim in respect of an event that occurred during the grace period, the value of the claim may be reduced by the sum of the unpaid premium.
9.11: Prohibited Claims Practices
An insurer may not – Dissuade a claimant from obtaining the services of an attorney or adjustor. Deny a claim without performing a reasonable investigation. Deny a claim based solely on the outcome of a polygraph, lie detector, truth verification or similar test or procedure.
9.10: Excesses
Where any excess is payable by the policyholder, the excess – Must be clearly disclosed to the policyholder. Must be disclosed to the claimant. Must be fair and reasonable. May not constitute an unreasonable barrier to a claimant, considering the reasonably assumed circumstances and expectations of the average targeted policyholder and claimant in respect of […]
9.9: Reporting of Claims Information
An insurer must have appropriate processes in place to ensure compliance with any prescribed requirements for reporting claims information to any relevant designated authority or to the public as may be required by the Authority.