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SOURCE OF INFORMATION : INSURANCE REGULATORY & DEVELOPMENT AUTHORITY OF INDIA WEBSITE
PERIOD COVERED : 16-AUG-2002 TO 21-NOV-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 (INSURANCE SURVEYORS AND LOSS ASSESSORS) REGULATIONS, 2015

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
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 		 
2
History of entity/person RELIANCE GENERAL INSURANCE CO.LTD.  
  DID NOT SOLICIT INSURANCE POLICIES HAVING SUM INSURED EXCEEDING RS.5 CRORE PER RISK FOR ALL INSURANCES COMBINED

ENGAGED WITH ADVAITH MOTORS AND MADE PAYMENTS FOR OTHER PROFESSIONAL, TECHNICAL AND BUSINESS SERVICES

APPOINTED IN HOUSE EMPLOYEES TO ASSESS THE LOSS BEYOND RS.50,000.00 UNDER MOTOR INSURANCE WHO DID NOT POSSESS THE LICENSE ISSUED BY IRDAI FOR SURVEYOR   		IMPOSED PENALTY RS.2,00,00,000

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

03-JAN-2024 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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