Regulatory Alerts2012-11-16
Guidelines on complaints-handling by insurance undertakings
The European Insurance and Occupational Pensions Authority (EIOPA) issued these guidelines to ensure supervisory convergence and adequate policyholder protection regarding complaint handling. Competent authorities must ensure insurance undertakings implement a senior-endorsed complaints management policy, maintain a dedicated function for fair investigation, and register all complaints internally. Furthermore, insurers are required to provide clear information on their processes, analyze data to address systemic risks, and respond to complainants within specified time limits using plain language.
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