If you are an Existing User, please enter your Username & Password below

Forgot Password?

Are you a New User? Click here to enrol

close

Click here to visit old website
Co-Sponsors

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 (REGISTRATION OF INDIAN INSURANCE COMPANIES) REGULATIONS, 2000

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person EDELWEISS TOKIO LIFE INSURANCE CO.LTD.  
  DID NOT TAKE PRIOR APPROVAL FROM IRDA FOR CHANGE IN SHAREHOLDING PATTERN

DID NOT SUBMIT DETAILS OF EXPIRY OF THE JOINT VENTURE AGREEMENT DATED 28/11/2009 ENTERED BETWEEN EDELWEISS FINANCIAL SERVICES LTD. AND TOKIO MARINE & NICHIDO FIRE INSURANCE CO.LTD.   		IMPOSED PENALTY RS.20,00,000

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

04-APR-2024 		 
2
History of entity/person GO DIGIT GENERAL INSURANCE LTD.  
  DELAY IN REMITTANCE OF PREMIUM BY MOTOR INSURANCE SERVICE PROVIDER (MISP)

USED CLAUSES/TERMS IN STANDARD OPERATING PROCEDURE (SOP) RELATED TO PROCESSING OF MOTOR INSURANCE CLAIMS AGAINST THE INTEREST OF POLICYHOLDERS

DID NOT SEND INITIAL ASSESSMENT OF LOSS OR FINAL SETTLEMENT LETTER TO POLICYHOLDER   		IMPOSED PENALTY RS.5,00,000

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

29-JAN-2021 		 
3
History of entity/person GO DIGIT GENERAL INSURANCE LTD.  
  DELAY IN SUBMISSION OF JOINT VENTURE AMENDMENT AGREEMENT TO IRDAI   IMPOSED PENALTY RS.1,00,00,000

02-MAY-2024 		 
4
History of entity/person NATIONAL INSURANCE CO.LTD.,THE  
  MADE ADDITIONAL PAYOUTS TOWARDS OTHER SERVICES OVER AND ABOVE COMMISSION

ENTERED INTO AGREEMENTS TO PROVIDE INSURER SERVICES WHICH WERE REQUIRED TO BE EITHER PERFORMED BY A LICENSED INTERMEDIARY OR BY THE INSURER AND NOT PERMITTED TO BE OUTSOURCED

ALLOWED DISCOUNTS/DISCRETIONARY DISCOUNTS OVER AND ABOVE APPROVED STRUCTURE   		IMPOSED PENALTY RS.15,00,000

06-MAY-2016 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

This website is not comprehensive and is being updated on a regular basis. Users are requested to carefully look at the formats and the information about the coverage period that appears on search results pages.

DISCLAIMER BY NSE

NSE is the co-sponsor of this website and supportive of the initiative taken for protection of interest of investors by Praxis Consulting & Information Services Pvt.Ltd. (PRAXIS), the creator of this website. However, NSE bear no responsibility for the views/information that is available on this website and as responsibility of the contents of this website solely rests with PRAXIS. NSE shall not be responsible for, and expressly disclaims all liability for, damages of any kind arising out of use, reference to or reliance on any information available on this website. Investors/visitors of this website are also advised to read through the other general disclaimer(s) and terms and conditions available on this website before using the website.

Site designed and maintained by watchoutinvestors.com
© PRIME DATABASE GROUP 2004-2024
No part of this site may be reproduced without the explicit permission of the owners.

top