Question
What is the maximum amount that can be awarded by
Insurance Ombudsman, in case of a grievance?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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