Sri Lanka: Regulator issues standards for investigations of insurance claims
Source: Asia Insurance Review | Mar 2017
The Insurance Board of Sri Lanka (IBSL) has issued guidelines on conducting investigations into insurance claims.
The guidelines specify the minimum standards for conducting investigations in respect of insurance claims, with the objective of promoting professionalism in the industry, said the regulator. The goal is to promote public confidence in the insurance industry,
Under the guidelines, insurance companies are to ensure that investigators perform their duties in an independent and impartial manner while maintaining confidentiality and being mindful of the interests of both the insurers and insurance claimants.
The standards also require the investigators to take great care in dealing professionally with the claimants, witnesses, informants, etc.
The guidelines took effect from 1 January 2017.