I bought a car insurance policy through my credit card company. Amex gave me a car insurance policy through ICICI Lombard and this insurance amount was charged to my card in 12 monthly interest free installments. I did not receive the insurance policy so a month later I requested the bank to cancel the same. I have cancelled the insurance policy in question and bought another one. However, the problem is that I am being charged (on my credit card) with the installment for the premium. I have sent numerous letters and requests to Amex as well as ICICI Lombard, but there has been no response so far. What do I do? I don’t want to pay these charges and I am getting billed extra interest charges, service tax and many other such charges.
November 19th, 2008 at 7:44 pm
The only way is to approach the Banking Ombudsman to resolve your issue.
November 19th, 2008 at 7:48 pm
Kindly make a complaint on a bank’s website. If you do not receive a satisfactory/any response within 2-3 weeks, please approach the Banking Ombudsman. The details are available on http://www.bankingombudsman.rbi.org.in
November 19th, 2008 at 8:20 pm
I think you need to call the call centre of the bank and get this resolved at the earliest otherwise you could be in the defaulter list of the bank and which will effect your creditability.
December 18th, 2008 at 3:31 pm
Before canceling your policy you should have called up the insurance company to find out the reason for the delay of the policy. The reason maybe that whenever you pay a premium through a credit card, then the insurance companies gets into a settlement mode with the insurance company. Maybe the settlement process would have taken sometime and this would have been the reason for delay of you getting the policy.
Now the only option left with you is to approach the banking ombudsman.