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Co-Sponsors

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.

WEB AGGREGATORS: VIOLATED IRDA (INSURANCE WEB AGGREGATORS) REGULATIONS, 2013

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person POLICYX.COM INSURANCE WEB AGGREGATORS PVT.LTD.  
  COMPLETED ISSUANCE OF POLICY AFTER THREE MONTHS OF LEAD GENERATION

SOURCED NON SINGLE YEARLY PREMIUM LIFE INSURANCE POLICY MORE THAN THE LIMIT OF RS.1.50 LAC

DID NOT SUBMIT DISCLOSURE TO IRDAI

POSTED PROMOTIONAL MATERIAL AND MAKING PUBLICITY ABOUT TWO INSURANCE COMPANIES ON ITS WEBSITE

DID NOT UPDATE LIST OF AUTHORIZED VERIFIERS ON DATA BASE OF INSURANCE INFORMATION BUREAU OF INDIA (IIB)

DID NOT MAINTAIN PROFESSIONAL INDEMNITY INSURANCE COVER AS PER IRDAI REGULATIONS

SOLICITED INSURANCE THROUGH TELE MARKETING AND DISTANCE MARKETING BY PERSONS OTHER AUTHORIZED VERIFIERS   		IMPOSED PENALTY RS.14,00,000

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

06-DEC-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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