We thank Mr Tan Siak Khian for his letter on 14 October 2022 on the proper channel for consumers to file complaints against insurers.

2. Consumers who have complaints against any financial institution (FI) should first contact the FI directly. The Monetary Authority of Singapore (MAS) expects all FIs to have in place a process to resolve consumer complaints promptly and effectively.

3. If consumers are not satisfied with the FI’s response, they may approach the Financial Industry Disputes Resolution Centre Ltd (FIDReC) (www.fidrec.com.sg ). FIDReC is an independent and impartial institution that provides low-cost dispute resolution services for consumers and their FIs.

4. If a consumer has a dispute of a clinical nature with an insurer on an Integrated Shield Plan claim, such as rejection of claims for a medically appropriate procedure or treatment, a case can be filed under the Clinical Claims Resolution Process (CCRP) (https://ccrp.com.sg ). The CCRP is a voluntary claims resolution process that provides a low-cost avenue for recourse for policyholders.

5. While MAS does not resolve individual disputes a consumer may have with an FI, consumers should file a report with MAS if they suspect that an FI or its representative has committed a regulatory breach or misconduct. MAS will investigate and take appropriate regulatory action against the FI and any person in breach of MAS’ rules and regulations. Where appropriate, MAS will also publish the regulatory action it has taken.

6. More information can be found on MAS’ website (https://www.mas.gov.sg/contact-us/file-report-faq ).

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Dawn Chew

Director (Corporate Communications)

Monetary Authority of Singapore