Office of Ombudsman for short and long-term insurance receives highest number of disputes in history - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

  • 📰 SABCNews
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The Office of Ombudsman for short and long-term insurance has received its highest number of complaints in its history. The office recorded more than 17 000 cases related to insurance disputes in 2021.

This is a 22 % increase from the previous year. The Ombudsman says almost half of these cases involve motor vehicle insurance.The insurance ombudsman says the COVID-19 pandemic had a significant impact on the number of insurance claims received by the office. It says more than 6 000 cases received were referrals from insurance companies.

“54% of all the complaints were resolved within four months, 16% were between 4-6 months and 30% were resolved in around six months. The majority of cases where the office overturned the insurance decision or stance were resolved by the parties through conciliation without the office having to issue a formal decision or a recommendation. This is testament to the level of co-operation received by the office from the industry.

“In 2019 motor vehicle insurance complaints to the office comprised 49% of all the complaints to the office, this dropped to 36% in 2020 as a direct result of the government posed COVID-19 lockdown regulation with less vehicles on the road and then last year this increased again back to in the 40s, this time 43% so not quite a pre-COVID levels but getting there.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

I am super excited right now, I can now pay my bills and take good care of my family.. Thank you for bringing happiness to my home with just $5000 i got $50,000 in 7days Williamchurch07

The most pertinent part of the article was saved for the very last sentence. Far too many people have no idea what they are, and aren't, covered for.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 37. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Life Esidimeni Inquest continues - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The Judicial Inquest into the deaths of 144 mental health patients during the LifeEsidimeni 2016 transfer project continues on Monday.
Source: SABCNews - 🏆 37. / 51 Read more »