ICICI Lombard — Willful delay in claim settlement

1. Policy holder name: Kailash kumar P K
2. Policy no: 3001/O/[protected]/00/000
3. Insurance Company name: ICICI Lombard
4. Pincode: 607106
5. Bima Bharosa portal - Token number[protected] raised on 09.12.2025
Despite escalation to IRDAI, till date there has been absolutely no response, communication, or corrective action from the insurance company. This itself is a direct violation of IRDAI (Protection of Policyholders’ Interests) Regulations, which mandate timely grievance redressal and proper communication with the policyholder.
Key violations by the insurance company:
Total absence of communication even after IRDAI escalation, reflecting gross negligence and contempt towards regulatory authority.
The insurer verbally informed that the vehicle is a Total Loss as per workshop estimate, but failed to settle the claim in accordance with policy IDV.
The insurer is now arbitrarily stating a reduced settlement amount of ₹8, 00, 000/-, citing poor auction response and lack of buyers.
As per IRDAI norms, auction failure or low salvage value cannot be passed on to the insured. Once a vehicle is declared Total Loss, the insurer is legally bound to settle IDV minus salvage value, not an arbitrary figure.
No written survey report, total loss computation, or justification has been provided till date.
I wish to highlight that I am a medical professional, and this vehicle is essential for my professional and daily obligations. The prolonged delay, lack of transparency, and unilateral reduction of claim amount have caused me severe mental harassment, financial strain, and professional inconvenience.
This clearly amounts to:
Deficiency in service
Unfair trade practice
Violation of IRDAI regulations
Willful delay in claim settlement