Govt asks Irdai, insurance firms to address issues to reduce pending cases

Irdai can mandate the companies to resolve the issues, if they remain unaddressed voluntarily for a long term

In order to reduce consumer pendency cases, the government on Wednesday asked the Insurance Regulatory and Development Authority of India (Irdai), insurance companies and other industry stakeholders to address the major issues pertaining to the insurance sector during a round table conference. 

Various Officials from the ministry of consumer affairs, Irdai, public and private insurance companies, consumer court commissions and consumer organisations were also present at the event. 

As of now, the Insurance sector has the highest number of pending cases followed by the banking sector in various consumer forums across the country. Out of 5.53 lakh pending cases in