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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 BROKER: VIOLATED IRDA (MICRO INSURANCE) REGULATIONS, 2005

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person BIRLA SUN LIFE INSURANCE CO.LTD.  
  ALLOWED MICRO INSURANCE (MI) AGENT TO SELL OTHER THAN MICRO INSURANCE PRODUCT VIOLATING REGULATION (4) OF IRDA (MICRO INSURANCE) REGULATIONS, 2005

DID NOT SETTLE MATURITY CLAIMS VIOLATING REGULATIONS 8(2) AND 8(3) OF IRDA (PROTECTION OF POLICYHOLDERS’ INTERESTS) REGULATIONS, 2002   		IMPOSED PENALTY RS.15,00,000

01-DEC-2014 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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