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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 BROKER: DID NOT HAVE ADEQUATE INTERNAL CONTROLS & SYSTEMS

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person ATHENA INSURANCE & REINSURANCE BROKERS PVT.LTD.  
  DID NOT DISCLOSE MATERIAL FACTS IN APPLICATION SUBMITTED TO OBTAIN LICENCE

DID NOT RECOVER PREMIUMS PAID ON BEHALF OF CLIENT AND WRITTEN OFF AS BAD DEBTS

DID NOT HAVE ADEQUATE INTERNAL CONTROLS AND SYSTEMS   		REJECTED APPLICATION FOR RENEWAL OF COMPOSITE BROKING LICENSE

08-JUL-2011 		IRDA VIDE ITS ORDER DATED 17/11/2011 ORDERED TO RENEW COMPOSITE BROKING LICENSE FOR FURTHER PERIOD OF THREE YEARS WITH EFFECT FROM 09/06/2009 ON COLLECTION OF FINE OF RS.5 LACS  
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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