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Resolve insurance disputes in Singapore

Resolve insurance disputes in Singapore

Insurance products in Singapore can refer to life or non-life policies, signed in the eventuality that a certain event of risk may occur throughout the duration of the contract. Although most of the situations provided by insurance companies are respected according with the stipulations of the contract, occasionally insurance disputes may arise. If you are involved in an insurance disputeour lawyers in Singapore can offer you legal representation or can provide you with advice on this issue. 

Insurance disputes, solved by IDRO

As a consequence of insurance disputes, in 2003, the insurance companies have established Insurance Disputes Resolution Organization (IDRO), a regulatory body to which insureds and insurers can address to. 

IDRO can intervene in following insurance disputes:

life insurance policies and non-life insurance policies with a maximum value of S$ 100,000 (Singapore dollar);

• third-party claims, up to the value of S$50,000;

• claims up to S$10,000.

IDRO is an independent entity which can solve only insurance disputes that may arise in the case of insured individuals or third parties who are individuals or sole proprietorship. IDRO is formed by a representative of the Supreme Court, and representatives of several associations, such as the General Insurance Association of Singapore or Consumers Association in Singapore; our lawyers in Singapore can provide you more information on the subject. 

Solving disputes in Singapore

In all disputes, regardless of their nature, it is recommended, as a first stage, to mediate the problem, so that the parties involved would settle the case. 

If you have an insurance dispute with the insurance company, the first step would be to address to the company, from the point of view of a consumer. All companies are obliged, according to the law in Singapore, to respond to the complaints of a consumer, by offering feedback and a possible solution to the problem addressed.

The second stage applicable in this case would be mediation, in which the parties involved will try to reach to an agreement.

The last stage would be to address to IDRO, if your case can be placed in one of the above mentioned conditions in which IDRO has a legal competenceour law firm in Singapore can represent you in such a case. 

If you need legal representation in an insurance dispute, please contact our law firm in Singapore