5 days ago
Irdai imposes Rs 5 crore fine on Policybazaar Insurance Brokers
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
Regulator Irdai has imposed a Rs 5 crore penalty on Policybazaar Insurance Brokers for certain lapses and also cautioned against violating insurance Insurance Brokers was earlier known as Policybazaar Web Aggregator Insurance Regulatory and Development Authority of India (Irdai) has also issued direction, advisory and caution to the company, according an official regulator said a penalty of Rs 5 crore has been impose on M/s Policybazaar Web Aggregator Pvt Ltd (now known as 'M/s Policybazaar Insurance Brokers Pvt Ltd') along with direction, advisory and caution for various violations" established under Insurance Act, 1938 and Rules and was founded in 2008 and has sold over 42 million policies since inception.
