IRDAI Order of 19.2.2025 – Insurance Broker – Penalty of Rs.1 crore for violation
IRDAI Order of 19.2.2025 – Insurance Broker – Penalty of Rs.1 crore and Advisory for violation
There was delay of 36 days to 1151 days in remittance of premiums / claims to the tune of Rs.1,32,70,784/- to the reinsurers / insurers / foreign insurance brokers. Moreover, there was no settlement of Rs.73,44,640/- received by the Broker. Violation of Clause f of Schedule II Form U of the IRDAI (Insurance Brokers) Regulations, 2018 if remittances are made beyond 15 days.
यूआईबी इंश्योरेंस ब्रोकर्स प्राइवेट लिमिटेड के मामले में आदेश _ Order in the matter of UIB Insurance Brokers Pvt Ltd.pdf
