The Insurance and
Regulatory Development Authority (IRDA) has proposed that insurers should use
reasonable font size in policy documents, so that customers are able to read
these documents & understand their
provisions properly.
The minimum font
size that has been suggested should be equivalent to Times New Roman size
number 7.
The insurer has
also advised insurance companies to provide forms in all the languages
recognised under the Constitution of India.
IRDA said that
these initiatives will go a long way towards enhancing transparency &
increasing clients confidence in insurance companies.
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