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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 SURVEYOR AND LOSS ASSESSOR: DEFAULTED IN MAKING DISCLOSURE OF MATERIAL INFORMATION

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person INNOVATIVE INSURANCE SURVEYORS & LOSS ASSESSORS PVT.LTD.  
  DID NOT MAINTAIN RECORDS PROPERLY AND ADEQUATELY VIOLATING REGULATION 16(9) OF IRDAI (INSURANCE SURVEYORS AND LOSS ASSESSORS) REGULATIONS, 2015

SURVEYS CONDUCTED BY OTHER THAN LICENSED PERSON VIOLATING CLAUSE 1 OF REGULATION 12 AND CLAUSES 15(1), 15(3) & 15(4) OF REGULATION 4 AND CLAUSE 5 & 7 OF REGULATION 16 OF IRDAI (INSURANCE SURVEYORS AND LOSS ASSESSORS) REGULATIONS, 2015

DID NOT SEEK EXTENSION FOR SUBMISSION OF SURVEY REPORT VIOLATING CLAUSES 2 AND 3 UNDER REGULATIONS 13 OF IRDAI (INSURANCE SURVEYORS AND LOSS ASSESSORS) REGULATION 2015

DID NOT INTIMATE IRDA ABOUT APPOINTMENT/RESIGNATION OF DIRECTORS VIOLATING CLAUSE 4(A) UNDER REGULATIONS 3 OF IRDAI (INSURANCE SURVEYORS AND LOSS ASSESSORS) REGULATION 2015

DID NOT SUBMIT REQUISITE DATA TO INSPECTION TEAM   		IMPOSED PENALTY RS.2,00,000

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

08-NOV-2021 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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