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    Question

    What is the maximum amount that can be awarded by

    Insurance Ombudsman, in case of a grievance?
    A Up To Rs.10 Lakhs Correct Answer Incorrect Answer
    B Up To Rs.20 Lakhs Correct Answer Incorrect Answer
    C Up To Rs.30 Lakhs Correct Answer Incorrect Answer
    D Up To Rs.100 Lakhs Correct Answer Incorrect Answer
    E Not specified as per current regulations Correct Answer Incorrect Answer

    Solution

    Insurance Ombudsman  can pass an award within 3 months  of receiving all the requirements from the complainant and which will be binding on the insurance company. The   award can be of any  compensation up to the loss suffered  by the complainant as a direct consequence of the cause of action and  not exceeding Rs.30 lakhs  (including relevant expenses, if any).

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