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SOURCE OF INFORMATION : INSURANCE REGULATORY & DEVELOPMENT AUTHORITY OF INDIA WEBSITE
PERIOD COVERED : 16-AUG-2002 TO 13-JUL-2024

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 IRDA (HEALTH INSURANCE) REGULATIONS, 2013

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person CHOLAMANDALAM MS GENERAL INSURANCE CO.LTD.  
  PAID COMMISSION ON PORTED HEALTH POLICIES VIOLATING CLAUSE 15 OF SCHEDULE I OF IRDA (HEALTH INSURANCE) REGULATIONS, 2013

PAID FEE WITHOUT HAVING UPPER CAP/LIMIT ON FEE PAYABLE

DID NOT ADHERE TO CIRCULAR ON PROVIDING OF INFORMATION OF AGENCY CONTACT DETAILS IN POLICY DOCUMENT   		IMPOSED PENALTY RS.1,01,00,000

22-OCT-2019 		 
2
History of entity/person ICICI LOMBARD GENERAL INSURANCE CO.LTD.  
  ISSUED GROUP PERSONAL ACCIDENT PRODUCT WITH TERM MORE THAN ONE YEAR VIOLATING REGULATION 3(C), 3(D) AND 4(A & B)) OF IRDA (HEALTH INSURANCE) REGULATIONS, 2013

ISSUED GROUP INDIVIDUAL PERSONAL PROTECT POLICY WITH TERM MORE THAN THREE YEARS VIOLATING REGULATION 3(C), 3(D) AND 4(A & B)) OF IRDA (HEALTH INSURANCE) REGULATIONS, 2013   		IMPOSED PENALTY RS.1,00,00,000

27-JAN-2020 		 
3
History of entity/person NATIONAL INSURANCE CO.LTD.,THE  
  DID NOT ADHERE TO IRDA REGULATIONS/DIRECTIVES/INSTRUCTIONS/GUIDELINES/CIRCULARS IN RESPECT OF ISSUANCE OF "BOI NATIONAL SWASTHYA BIMA POLICY"

DID NOT FURNISH REQUIRED INFORMATION/DOCUMENTS TO IRDA WITHIN STIPULATED TIME   		IMPOSED PENALTY RS.5,00,000

27-APR-2015 		 
4
History of entity/person NEW INDIA ASSURANCE CO.LTD.,THE  
  DID NOT FILE MEDICLAIM INSURANCE PRODUCT IN THE MANNER IN WHICH IT WAS ENVISAGED TO BE FILED AND RENEWED POLICIES WITHOUT GETTING CLEARANCE FROM IRDA VIOLATING REGULATION (4) (A) OF IRDA (HEALTH INSURANCE) REGULATIONS, 2013   IMPOSED PENALTY RS.5,00,000

19-JAN-2016 		 
5
History of entity/person RELIANCE GENERAL INSURANCE CO.LTD.  
  DID NOT MAKE DIRECT PAYMENTS TO NETWORK PROVIDER AND POLICYHOLDERS BY INTEGRATING THEIR BANKING SYSTEM PLATFORM WITH NETWORK PROVIDER OR INSURED   IMPOSED PENALTY RS.5,00,000

09-APR-2015 		 
6
History of entity/person UNITED INDIA INSURANCE CO.LTD.  
  DID NOT MAKE DISCLOSURE OF LOADING/DISCOUNT PARAMETRS SPECIFIED IN FILE AND USE APPLICATION BY IRDA

DID NOT MAKE DISCOSURE OF MATRIX IN POLICY CONTRACT ISSUED VIOLATING REGULATION 7(H) (II) (3) OF IRDA (HEALTH INSURANCE) REGULATIONS, 2013   		CENSURED/WARNED & DIRECTED/ADVISED TO BE DILIGENT IN COMPLYING WITH ALL THE ACTS, REGULATIONS ETC.

31-OCT-2017 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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