We greet you with a warm welcome to this website of the Insurance Ombudsman Sri Lanka. This website is supervised by the Ombudsman's office and is updated from time to time to incorporate the developments in the ombudsman scheme. The website contains all the details you should know to get the maximum benefit from this ombudsman scheme which is not only user friendly but is also free.
All policy holders of insurance companies, the staff of insurance companies and their Agents and insurance brokers are strongly advised to look up the website and learn about the scheme.
The current website was revised in June 2006. It has deleted a considerable amount of material which was included in the first website launched at the start of the scheme in February 2005. After over one year of operations what is now included is what is necessary and beneficial to users of the web site.
Origin of the Ombudsman Scheme
On 1st February 2005, a mediation and alternate dispute resolution scheme called “The Insurance Ombudsman Sri Lanka” was established by the Insurance Association of Sri Lanka (IASL) with the approval and concurrence of the Insurance Board of Sri Lanka (IBSL).
Dr.Wickrema Weerasooria, an eminent lawyer, academic and legal consultant in commerce, banking and financial matters, was appointed as Sri Lanka 's first Insurance Ombudsman of Sri Lanka as from 1st February 2005. The appointment was made by the IASL with the concurrence of the IBSL.
The Insurance Ombudsman has the power to inquire into and settle complaints and disputes between policy holders(customers) and the insurance institutions covered by the Ombudsman Scheme.
The insurance institutions that are voluntarily participating in this scheme are those regulated and supervised by the Insurance Board of Sri Lanka. See...
As at January 2006 Sri Lanka's insurance industry was owned and operated by fourteen (14) private sector companies who have agreed to the Insurance Ombudsman Scheme.
The Sri Lanka Insurance Ombudsman scheme is based fundamentally on schemes successfully operating in other countries like India, England, Australia and New Zealand. Those schemes are running well and it is hoped that the scheme in Sri Lanka will also be successful.
The Insurance Ombudsman scheme is also modelled on the Financial Ombudsman Scheme in Sri Lanka which was established in December 2003 and has been in successful operation since then. In fact, the Insurance Ombudsman operates from the same building where the office of the Financial Ombudsman is located.
As stated earlier, this website (first published in the internet in February 2005) is updated from time to time incorporating the progress and developments in Sri Lanka's Insurance Ombudsman scheme.