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Financial Glossary
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> "Ombudsman" Definition |
 Ombudsman
An independent official to whom grievances can be aired, free of charge. Ombudsman is a Swedish word meaning citizen"s representative. The Insurance Ombudsman Bureau aims to increase confidence in Insurance by offering an independent resource for resolving disputes between insurance companies and their customers.
An independent official who investigates the complaints of individuals against companies or public authorities. Ombudsmen do not have any formal power to reverse decisions but they have substantial moral authority over companies or national or local government agencies.Within financial services, there are different Ombudsmen for banking, building societies, insurance, pensions, and investments.If you have a complaint about your treatment by a financial services company, the first thing you should do is make the complaint directly to the compliance officer or senior management of the company. If the outcome is unsatisfactory, you can then take it to the Ombudsman who will investigate and consider all the facts of the case, and make a recommendation. The company will not always follow the Ombudsman"s recommendation, but usually will.
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Glossary 
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Dictionary
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Ombudsman - An independent official to whom grievances can be aired, free of charge. Ombudsman is a Swedish word meaning citizen"s representative. The Insurance Ombudsman Bureau aims to increase confidence in Insurance by offering an independent resource for resolving disputes between insurance companies and their customers.
An independent official who investigates the complaints of individuals against companies or public authorities. Ombudsmen do not have any formal power to reverse decisions but they have substantial moral authority over companies or national or local government agencies.Within financial services, there are different Ombudsmen for banking, building societies, insurance, pensions, and investments.If you have a complaint about your treatment by a financial services company, the first thing you should do is make the complaint directly to the compliance officer or senior management of the company. If the outcome is unsatisfactory, you can then take it to the Ombudsman who will investigate and consider all the facts of the case, and make a recommendation. The company will not always follow the Ombudsman"s recommendation, but usually will.
Ombudsman : an independent official to whom grievances can be aired, free of charge. ombudsman is a swedish word meaning citizen"s representative. the insurance ombudsman bureau aims to increase confidence in insurance by offering an independent resource for resolving disputes between insurance companies and their customers.
an independent official who investigates the complaints of individuals against companies or public authorities. ombudsmen do not have any formal power to reverse decisions but they have substantial moral authority over companies or national or local government agencies.within financial services, there are different ombudsmen for banking, building societies, insurance, pensions, and investments.if you have a complaint about your treatment by a financial services company, the first thing you should do is make the complaint directly to the compliance officer or senior management of the company. if the outcome is unsatisfactory, you can then take it to the ombudsman who will investigate and consider all the facts of the case, and make a recommendation. the company will not always follow the ombudsman"s recommendation, but usually will.
