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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 BROKER: CONDUCTED IMPROPERLY IN RELATION TO PLACEMENT OF REINSURANCE LIABILITY RISK

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person CORPORATE RISKS INDIA PVT.LTD.  
  CONDUCTED IMPROPERLY IN RELATION TO PLACEMENT OF REINSURANCE LIABILITY RISK   SUSPENDED LICENSE AS INSURANCE BROKER

27-MAR-2004 		REVOCATION OF SUSPENSION ORDER SUBJECT TO CONDITIONS  
2
History of entity/person MF INSURANCE & REINSURANCE SERVICES  
  COMMITTED BREACH OF CODE OF CONDUCT UNDER IRDA REGULATIONS

COMMITTED SERIOUS IRREGULARITIES BY GIVING WRONG NAMES OF THE REINSURERS   		SUSPENDED LICENSE AS INSURANCE BROKER

09-FEB-2007 		INSURANCE BROKER EXPRESSED THEIR DECISION TO VOLUNTARY SURRENDER THEIR BROKERS LICENCE. AND IRDA SUBSEQUENTLY CANCELLED THE LICENCE.  
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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