Regulatory Alerts2011-10-06
Proposed Minimum Requirements on Customer Complaints Procedures
The Central Bank of Bahrain mandates that insurance licensees implement standardized customer complaints procedures, requiring a senior, independent Complaints Officer to oversee internal handling processes. Licensees must acknowledge written complaints within one to five days, deliver substantive responses within one to two weeks, and retain detailed complaint records for five years. Additionally, the regulator requires quarterly reporting of complaint volumes and resolution status while exempting reinsurance companies that primarily serve wholesale market counterparties.
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