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The Governing Body of Insurance Council (GBIC) has been established under Redressal of Public Grievances Rules 1998, to set-up and facilitate the Institution of Insurance Ombudsman in India. PROCEDURE TO LODGE A COMPLAINT WITH INSURANCE OMBUDSMAN · Please write to the Insurer. The Executive Council of Insurers, previously known as Governing Body of Insurance Council (GBIC) has been established under the Insurance Ombudsman. CAUTION for General public:- ECOI (formerly GBIC) does not involve, directly or through any representative, in sale of any kind of insurance or financial products. Canara HSBC Oriental Bank of Commerce Life Insurance Smart Suraksha Plan.