developing· Economy· Updated
Israel Regulator Recovers NIS 21.5 Million for Insurance and Pension Clients
Israel's Capital Markets, Insurance and Savings Authority returned approximately NIS 21.5 million to consumers in 2025. The regulatory body intervened in 16,906 public complaints and inquiries regarding insurance, pension, and financial service providers.
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What happened
- 01Israel's Capital Markets Authority returned over NIS 21.5 million to consumers in 2025.
- 02The regulatory authority processed 16,906 public complaints and inquiries throughout the year.
- 03Nearly half of the reviewed complaints, 45%, were determined by the authority to be justified.
- 04Poor customer service and claim processing delays were the leading causes for compensation payouts.
- 05Harel Insurance received 833 justified complaints and paid out NIS 9.6 million to policyholders.
- 06Migdal and Menora each faced approximately 440 justified complaints, paying out NIS 1.5 million and NIS 1.2 million respectively.
- 07Supervisor of Capital Markets Amit Gal stated the report is a key tool for identifying market failures.
According to the authority's annual report, 76% of the total inquiries were complaints, with 45% of those deemed justified after review. Poor customer service was identified as the primary reason for compensation payouts across all insurance sectors, followed by delays in claim processing and payments. The authority's Public Inquiries Department, staffed by about 10 employees and 20 call center agents, managed the cases.
Harel Insurance Company received the highest number of justified complaints at 833, paying out NIS 9.6 million to policyholders, NIS 600,000 in exceptional cases, and NIS 2 million to pension clients. Migdal and Menora followed with approximately 440 justified complaints each, paying out NIS 1.5 million and NIS 1.2 million respectively. Amit Gal, the Supervisor of Capital Markets, highlighted the report as a key tool for identifying market failures and serving the public's trust.
Summarized by baba from the reports of 3 newsrooms. Updated
Latest report: NEWSru Israel. Read NEWSru Israel’s originalThe coverage
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