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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: DENIED DEATH CLAIM UNDER HOME PROTECTION POLICY

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person HDFC STANDARD LIFE INSURANCE CO.LTD.  
  ISSUED AND SENT CHEQUE IN FAVOUR OF MASTER POLICY HOLDER IN CASE OF DEATH CLAIMS

PAID MARKETING EXPENSES TO CORPORATE AGENTS IN ADDITION TO BROKERAGE PAID

PERMITTED VARIOUS UNLICENSED INDIVIDUALS AND CORPORATES TO SOLICIT AND PROCURE BUSINESS

TOOK 2% EXPOSURE IN SUBSCRIBED EQUITY SHARES OF PVT.LTD.COMPANY

DENIED DEATH CLAIM UNDER HOME PROTECTION POLICY WHERE DEATH OCCURRED WITHIN 90 DAYS FROM THE DATE OF COMMENCEMENT OF THE POLICY   		IMPOSED PENALTY RS.1,47,00,000

27-JUN-2012 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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