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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 KEY-MAN INSURANCE PROVISIONS

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LTD.  
  CONSIDERABLE DELAY IN PROCESSING AND SETTLEMENT OF DEATH CLAIMS

PAID CLAIM CHEQUES TO MASTER POLICY HOLDER

WAIVED PORTION OF TOTAL PREMIUM WHEN POLICY ACCEPTED WITH EXTRA

WAIVED SURRENDER CHARGES PARTIALLY OR FULLY

ALLOWED SURRENDERS WITHIN THREE YEARS

WAIVED SURRENDER PENALTY

SURRENDERED MWP POLICIES

SOLD OTHER THAN TERM POLICIES (UNIT LINKED POLICIES) IN KEY-MAN INSURANCE POLICIES   		CENSURED/WARNED & DIRECTED/ADVISED TO BE DILIGENT IN COMPLYING WITH ALL THE ACTS, REGULATIONS ETC.

30-OCT-2008 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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