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SOURCE OF INFORMATION : INSURANCE REGULATORY & DEVELOPMENT AUTHORITY OF INDIA WEBSITE
PERIOD COVERED : 16-AUG-2002 TO 30-SEP-2026

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

INSURANCE COMPANY: VIOLATED IRDAI (PROTECTION OF POLICYHOLDERS INTERESTS, OPERATIONS AND ALLIED MATTERS OF INSURERS) REGULATIONS, 2024

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person CANARA HSBC LIFE INSURANCE CO.LTD.  
  MIS-SOLD LIFE INSURANCE POLICY TO PERSON BEYOND PERMISSIBLE AGE LIMIT

DID NOT HAVE CUSTOMER INFORMATION SHEET AND PROPOSAL FORM COPY AT THE POINT OF SALE AND THE PREMIUM WAS COLLECTED PRIOR TO POLICY ISSUANCE AND DID NOT ADEQUATELY DISCLOSED PROPOSER’S DEATH DURING PREMIUM-PAYING TERM   		IMPOSED PENALTY RS.1,00,00,000

CENSURED/WARNED & DIRECTED/ADVISED TO BE DILIGENT IN COMPLYING WITH ALL THE ACTS, REGULATIONS ETC.

10-SEP-2026 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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