Section 4(1) in The Insurance Ombudsman Rules, 2017
(1)In these rules, unless the context otherwise requires,-(a)"award" means an award passed by the Insurance Ombudsman under rule 17;(b)"financial year" means a period of twelve months commencing on the 1st day of April and ending on the 31st day of March;(c)"Insurance Council" means the Life Insurance Council and the General Insurance Council constituted under section 64C of the Insurance Act, 1938 (4 of 1938);(d)"Executive Council of Insurers" means the Executive Council of Insurers constituted under rule 5;(e)"Insurance Ombudsman" means the Insurance Ombudsman established under rule 7;(f)"IRDAI" means the Insurance Regulatory and Development Authority of India established under section 3 of the Insurance Regulatory and Development Authority Act, 1999;(g)"Ombudsman" means a person appointed as an Insurance Ombudsman under these rules;(h)"personal lines" means an insurance policy taken or given in an individual capacity;(i)"Group insurance" means insurance cover obtained by a group of individuals, either through an employer or otherwise, under a single contract;(j)"sole proprietorship" means a business that legally has no separate existence from its owner and the income and losses are taxed on the individual's personal income tax return;(k)"micro enterprise" means the micro enterprises as defined in clause (h) of section 2 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 0f 2006).
