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  • BC-4.5 BC-4.5 Response to Complaints

    • BC-4.5.1

      An insurance licensee must acknowledge in writing within the same day of receipt of customer written complaints for non-life insurance policies and within 5 business days of receipt of customer written complaints for life insurance policies.

      Added: October 2011

    • BC-4.5.2

      An insurance licensee must respond in writing to a customer's complaint within one week of receiving non-life insurance policies complaint and within 2 weeks of receiving life insurance policies complaint, explaining their position and how they propose to deal with the complaint.

      Added: October 2011

    • Redress

      • BC-4.5.3

        An insurance licenseeshould decide and communicate how it proposes (if at all) to provide the customer with redress. Where appropriate, the insurance licensee must explain the options open to the customer and the procedures necessary to obtain the redress.

        Added: October 2011

      • BC-4.5.4

        Where an insurance licensee decides that redress in the form of compensation is appropriate, the insurance licensee must provide the complainant with fair compensation and must comply with any offer of compensation made by it which the complainant accepts.

        Added: October 2011

      • BC-4.5.5

        Where an insurance licensee decides that redress in a form other than compensation is appropriate, it must provide the redress as soon as practicable.

        Added: October 2011

      • BC-4.5.6

        Should the customer that filed a complaint not be satisfied with the response received as per Paragraph BC-4.5.2, he can forward the complaint to the Consumer Protection Unit at the CBB within 30 calendar days from the date of receiving the letter from the insurance licensee.

        Amended: April 2020
        Added: October 2011