The absence of any representative to voice the views of motor insurance policy-holders in a committee set up by IRDAI to bring clarity and transparency in payouts made to auto dealers is unfair, say industry experts.
The government-owned non-life insurer United India Insurance Company Ltd proposes to appeal against allegations by the Directorate General of Central Excise Intelligence that Cenvat credit on policies sold by car dealers was wrongly claimed, said a top company official.
The Insurance Regulatory and Development Authority of India (IRDAI) recently announced formation of a seven-member committee to bring clarity and transparency in payouts made to automobile dealers by insurers for getting motor insurance business.