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Regulatory Actions Covered By This Website

REGULATORY ACTIONS IN CHRONOLOGICAL ORDER

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.

ENTITY

S.
No.		 DATE OF ORDER ENTITY PERSON COMPETENT AUTHORITY REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1 26-DEC-2025
History of entity/person RELIANCE GENERAL INSURANCE CO.LTD.   
  IRDAI  DID NOT ADEQUATELY DEMONSTRATE AND PROVIDE EVIDENCE REGARDING AUTHENTICITY AND LEGITIMACY OF PAYMENTS MADE TO GLITTERBUG TECHNOLOGIES PVT.LTD

MADE EXTRA PAY-OUTS TO COVERFOX INSURANCE BROKING PVT.LTD. BY ENTERING INTO AGREEMENT WITH ITS PARENT ENTITY GLITTERBUG TECHNOLOGIES PVT.LTD

DID NOT OBTAIN SPECIFIC APPROVAL FROM OUTSOURCING COMMITTEE FOR ACTIVITIES OUTSOURCED TO RELATED PARTY

ENGAGED SUVIDHAA INFOSERVE FOR INSURANCE RELATED ACTIVITIES WITHOUT OBTAINING INSURANCE LICENSE FROM IRDAI

PAID MORE THAN FIFTY PERCENT OF THEIR TOTAL REVENUE FROM SOURCES OTHER THAN INSURANCE COMMISSION VIOLATING REGULATION 6(C) OF IRDAI (PAYMENT OF COMMISSION OR REMUNERATION OR REWARD TO INSURANCE AGENTS & INSURANCE INTERMEDIARIES) REGULATIONS, 2016  		IMPOSED PENALTY RS.1,00,00,000

26-DEC-2025 		 
2 15-DEC-2025
History of entity/person CARE HEALTH INSURANCE LTD. 

(Old Name : RELIGARE HEALTH INSURANCE CO.LTD.)  
  IRDAI  DID NOT PROVIDE INSURED/ COMPLAINANTS WITH SPECIFIC NAME AND ADDRESS OF COMPETENT JURISDICTION’S INSURANCE OMBUDSMAN

DID NOT ADHERE TO IRDAI INFORMATION & CYBER SECURITY GUIDELINES, 2023

DID NOT SUBMIT RISK MANAGEMENT COMMITTEE CONSTITUTED BY BOARD AND ACTION TAKEN REPORT IN PRESCRIBED TIME PERIOD

DID NOT CAPTURE SIGNATURES OF PATIENT OR ATTENDANT ON SUMMARY BILLS AND DISCHARGE SUMMARY OF HOSPITALS

REDUCED CLAIM AMOUNT BY APPLYING DEDUCTIONS ON ACCOUNT OF DISCOUNT BY HOSPITAL/ NETWORK PROVIDER AND DIFFERENCE IN TARRIF

DID NOT PROVIDE DETAILED BREAKDOWN OF CLAIM AMOUNTS PAID TO CUSTOMERS, INCLUDING CLAIMED AMOUNT, BREAK-UP OF PAID AMOUNT AND DEDUCTIONS INCLUDING HOSPITAL OFFERED DISCOUNTS

SETTLED AMOUNT LESS THAN FINAL BILL SUBMITTED BY HOSPITAL IN RESPECT OF CASHLESS CLAIMS

DID NOT CORRECTLY APPLY RETAIL HEALTH QUOTA SHARE TREATY RATE MENTIONED AS ‘ORIGINAL NET RISK RATES (NET OF COMMISSIONS AND EXPENSES)’ AS PER ARTICLE 8.1 AND ITEM NO.9 OF SCHEDULE TREATY

DID NOT MAINTAIN REASONABLE COMMISSION RATIOS UNDER RETAIL HEALTH QUOTA SHARE TREATY

DID NOT SET OFF/ADJUST PREMIUM RECEIVED IN ADVANCE/DEPOSITS/UNALLOCATED PREMIUM DURING CURRENCY OF THE POLICY NOR REFUNDED WITHIN SIX MONTHS FROM EXPIRY OF THE POLICY

DID NOT ADHERE TO REGULATORY COMPLIANCE AS SPECIFIC INFORMATION REQUIRED FOR MANDATORY DISPLAY ON THE WEBSITE AND AMOUNT WAS TRANSFERRED TO UNCLAIMED AMOUNT OF POLICYHOLDERS  		IMPOSED PENALTY RS.1,00,00,000

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

15-DEC-2025 		 
3 05-DEC-2025
History of entity/person KAVERI INFORMATICS PVT.LTD.   
  IRDAI  SUBMITTED FALSE INFORMATION REGARDING ITS NET-WORTH AND GAVE FALSE DECLARATION IN FROM A TO OBTAIN RENEWAL OF ITS CERTIFICATE OF REGISTRATION (COR)

DID NOT MAINTAIN NET WORTH AS REQUIRED IRDAI REGULATIONS, 2015  		REFUSED APPLICATION FILED TO GRANT CERTIFICATION OF REGISTRATION AS CORPORATE AGENT

05-DEC-2025 		 
4 05-DEC-2025
History of entity/person RAHEJA QBE GENERAL INSURANCE CO.LTD.   
  IRDAI  DID NOT ADHERE TO MINIMUM OBLIGATIONS UNDER MOTOR THIRD PARTY INSURANCE BUSINESS VIOLATING IRDAI (OBLIGATION OF INSURER IN RESPECT OF MOTOR THIRD PARTY INSURANCE BUSINESS) REGULATIONS, 2015  CENSURED/WARNED & DIRECTED/ADVISED TO BE DILIGENT IN COMPLYING WITH ALL THE ACTS, REGULATIONS ETC.

05-DEC-2025 		 
5 25-NOV-2025
History of entity/person RELIANCE NIPPON LIFE INSURANCE CO.LTD.   
  IRDAI  QUANTUM OF REMUNERATION PAID TO JOINT STATUTORY AUDITOR NOT RECOMMENDED OR APPROVED BY AUDIT COMMITTEE AND/OR BOARD

POLICYHOLDERS PROTECTION COMMITTEE (PPC) DID NOT DISCUSS/REVIEW REPUDIATED CLAIMS WITH THE REASONS FOR REPUDIATION  		CENSURED/WARNED & DIRECTED/ADVISED TO BE DILIGENT IN COMPLYING WITH ALL THE ACTS, REGULATIONS ETC.

25-NOV-2025 		 
6 19-NOV-2025
History of entity/person ENKI INSURANCE SURVEYOR & LOSS ASSESSORS PVT.LTD.   
History of entity/person DEEPAK GANPATLAL SHARMA
  		IRDAI  MISREPRESENTED AND CONCEALED HIS NATIONALITY TO OBTAIN SURVEYOR LICENSE AND MISLEAD THE AUTHORITY IN SUBSEQUENT RENEWALS  CANCELLED CERTIFICATE OF REGISTRATION AS INSURANCE SURVEYOR AND LOSS ASSESSOR

19-NOV-2025 		 
7 07-NOV-2025
History of entity/person UNIVERSAL SOMPO GENERAL INSURANCE CO.LTD.   
  IRDAI  CLOSED CLAIMS IN THE BOOK OF INSURER WITHOUT A FINAL DECISION VIOLATING REGULATION 27(V) OF IRDAI (HEALTH INSURANCE) REGULATIONS, 2016

DELAY IN MAKING REFUND OF PROPOSAL DEPOSIT VIOLATING REGULATIONS 8(6) AND 8(7) OF THE IRDAI (PROTECTION OF POLICYHOLDERS INTEREST) REGULATIONS, 2017

DELAY IN SETTLEMENT OF MOTOR CLAIM VIOLATING REGULATION 15(8) OF IRDAI (PROTECTION OF POLICYHOLDERS’ INTEREST) REGULATIONS, 2017

DID NOT PAY PENAL INTEREST FOR DELAY IN SETTLEMENT OF CLAIMS VIOLATING REGULATION 15(10) OF IRDAI (PROTECTION OF POLICYHOLDERS’ INTEREST) REGULATIONS, 2017  		CENSURED/WARNED & DIRECTED/ADVISED TO BE DILIGENT IN COMPLYING WITH ALL THE ACTS, REGULATIONS ETC.

07-NOV-2025 		 
8 28-OCT-2025
History of entity/person LIBERTY GENERAL INSURANCE CO.LTD. 

(New Name : LIBERTY GENERAL INSURANCE LTD.)  
  IRDAI  DID NOT MAINTAIN SIGNED COPY OF MINUTES OF OUTSOURCING COMMITTEE AND DID NOT PROVIDE DOCUMENTS REGARDING ANNUAL PERFORMANCE EVALUATION AND PERIODICITY OF INSPECTION OF OUTSOURCING SERVICE PROVIDERS

DID NOT PROVIDE NECESSARY DETAILS REGARDING SUBSTANTIAL AMOUNT PAID TO MAHINDRA INSURANCE BROKERS LTD.

DID NOT ENSURE STRICT ADHERENCE TO DEFINITIONS AND CLASSIFICATIONS AS PRESCRIBED UNDER IRDAI REGULATIONS WITHOUT ANY EXCEPTION

PAID REWARDS TO CORPORATE AGENTS IN THE NAME OF OUTSOURCING INSTEAD OF COMMISSION/REMUNERATION AND REWARDS ACCOUNT  		IMPOSED PENALTY RS.1,00,00,000

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

28-OCT-2025 		 
9 22-OCT-2025
History of entity/person HDFC ERGO GENERAL INSURANCE CO.LTD.   
  IRDAI  DID NOT ADHERE TO MINIMUM OBLIGATIONS UNDER MOTOR THIRD PARTY INSURANCE BUSINESS VIOLATING IRDAI (OBLIGATION OF INSURER IN RESPECT OF MOTOR THIRD PARTY INSURANCE BUSINESS) REGULATIONS, 2015  IMPOSED PENALTY RS.50,00,000

22-OCT-2025 		 
10 17-OCT-2025
History of entity/person RELIANCE NIPPON LIFE INSURANCE CO.LTD.   
  IRDAI  CANCELLED THE POLICIES BEYOND LIMIT OF THREE YEARS VIOLATING SECTION 45(1) OF INSURANCE ACT, 1938

DID NOT INSTITUTE SYSTEMS AND PROCESSES TO DETECT INTENDED FRAUDS AND MISREPRESENTATION BY LIFE ASSURED/POLICYHOLDERS VIOLATING CLAUSES 6 AND 7.3 CORPORATE GOVERNANCE GUIDELINES VIDE REF.NO.IRDA/F&A/GDL/CG/100/05/2015 DATED 18/05/2016  		CENSURED/WARNED & DIRECTED/ADVISED TO BE DILIGENT IN COMPLYING WITH ALL THE ACTS, REGULATIONS ETC.

DIRECTED TO PAY INTEREST @ BANK RATE PLUS 2% ON THE REFUNDED PREMIUM FROM DATE OF CANCELLATION OF POLICIES TO DATE OF REFUND OF PREMIUM

DIRECTED TO CAUSE AUDIT OF INTERNAL PROCESSES BY A CA FIRM TO IDENTIFY GAPS TO ENSURE COMPLIANCE IN LETTER AND SPIRIT WITHIN 180DAYS FROM THE DATE OF ORDER

17-OCT-2025 		 
11 13-OCT-2025
History of entity/person STERLITE INSURANCE SURVEYOR & LOSS ASSESSOR PVT.LTD.   
  IRDAI  SURRENDERED CORPORATE SURVEYORS AND LOSS ASSESSORS LICENSE  CANCELLED CERTIFICATE OF REGISTRATION AS INSURANCE SURVEYOR AND LOSS ASSESSOR

13-OCT-2025 		 
12 22-SEP-2025
History of entity/person SHRIRAM LIFE INSURANCE CO.LTD.   
  IRDAI  DID NOT RE-DISPATCH DOCUMENTS EVEN AFTER COMPLAINT FILED BY THE CUSTOMER/S

DID NOT PUT IN PLACE ADEQUATE PROCESSES AND SYSTEMS TO ENSURE REGULATORY COMPLIANCE AROUND FREE LOOK CANCELLATION FACILITY AND ALL OTHER BUILDING BLOCKS LIKE DISPATCH OF POLICY BONDS, GRIEVANCES RELATING TO NON-RECEIPT OF POLICY BONDS ETC.

DID NOT INSTITUTE SYSTEMS AND PROCESSES TO DETECT INTENDED FRAUDS AND MISREPRESENTATION BY LIFE ASSURED/ POLICYHOLDERS

DID NOT CARRY OUT DUE DILIGENCE BY OBTAINING STANDARDIZED AND VERIFIABLE PROOF OF ACTUAL ANNUAL INCOME OF POLICYHOLDER’S  		CENSURED/WARNED & DIRECTED/ADVISED TO BE DILIGENT IN COMPLYING WITH ALL THE ACTS, REGULATIONS ETC.

22-SEP-2025 		 
13 14-AUG-2025
History of entity/person ACKO GENERAL INSURANCE LTD.   
  IRDAI  ISSUED CERTIFICATES OF INSURANCE WITHOUT RECEIPT OF INSURANCE PREMIUM FROM POLICYHOLDERS VIOLATING SECTION 64 VB(1) OF INSURANCE ACT,1938  CENSURED/WARNED & DIRECTED/ADVISED TO BE DILIGENT IN COMPLYING WITH ALL THE ACTS, REGULATIONS ETC.

14-AUG-2025 		 
14 04-AUG-2025
History of entity/person POLICYBAZAAR INSURANCE WEB AGGREGATOR PVT.LTD. 

(New Name : POLICYBAZAAR INSURANCE BROKERS PVT LTD.)  
  IRDAI  DID NOT MAKE DISCLOSURE OF MATERIAL CHANGE IN COMPOSITION TO IRDA

PRINCIPAL OFFICER HELD DIRECTORSHIP IN OTHER COMPANIES IN ADDITION TO HAVING DIRECTORSHIP IN INSURANCE WEB AGGREGATOR

DID NOT OBTAIN PRIOR APPROVAL FROM IRDA BEFORE APPOINTMENT OF PRINCIPAL OFFICER OF INSURANCE WEB AGGREGATOR AS DIRECTOR IN OTHER COMPANIES

ADVERTISED FIVE INSURERS WHOSE ULIP PRODUCTS WERE DISPLAYED AS TOP RANKED VIOLATING CLAUSE C OF FORM Q UNDER SCHEDULE IV READ WITH REGULATION 26 AND CLAUSE B(II) OF FORM P OF SCHEDULE IV OF IRDAI (INSURANCE WEB AGGREGATOR) REGULATIONS, 2017

DID NOT PROVIDE CLEAR AND ADEQUATE EXPLANATION FOR SUBSTANTIAL PAYMENTS RECEIVED FROM INSURANCE COMPANIES

DID NOT PROVIDE NUMBER OF POLICIES SOLD WITHOUT TAGGING THE SAME WITH AUTHORIZED VERIFIER

DID NOT MAINTAIN CALL RECORDINGS AND ADEQUATE SOLICITATION RELATED DOCUMENTS

DID NOT CONDUCT PROPER DUE DILIGENCE ON THEIR EMPLOYEES

COLLECTED INSURANCE PREMIUM ON BEHALF OF INSURERS WITHOUT BEING AUTHORIZED BY THEM

USED ITS OWN PAYMENT GATEWAY AND NODAL ACCOUNT FOR TRANSMISSION OF INSURANCE PREMIUM TO INSURANCE COMPANIES WITHOUT PRIOR APPROVAL FROM IRDAI

DELAY IN REMITTANCE OF INSURANCE PREMIUM TO INSURERS

WRONGLY RECEIVED COMMISSION AS 17.5% INSTEAD OF 15%  		IMPOSED PENALTY RS.5,00,00,000

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

04-AUG-2025 		 
15 25-JUL-2025
History of entity/person STAR HEALTH & ALLIED INSURANCE CO.LTD.   
  IRDAI  DID NOT ADHERE TO IRDAI INFORMATION & CYBER SECURITY GUIDELINES, 2023  IMPOSED PENALTY RS.3,39,00,000

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

25-JUL-2025 		 
16 23-JUN-2025
History of entity/person EDELWEISS LIFE INSURANCE CO.LTD. 

(Old Name : EDELWEISS TOKIO LIFE INSURANCE CO.LTD.)  
  IRDAI  DID NOT CAPTURE BANK ACCOUNT DETAILS OF POLICYHOLDERS AT PROPOSAL AT PROPOSAL STAGE VIOLATING CLAUSE 4B(I) AND 4B(II) OF CIRCULAR NO.IRDA/F&A/CIR/MISC/282/11/2020 DATED 17/11/2020

DID NOT ENSURE THAT TRANSACTION ENTERED WITH RELATED PARTIES ARE AT ARM’S LENGTH PRICE

DID NOT CLASSIFY AND DISCLOSE ACTIVITIES LIKE TRAINING AND ADVERTISING AS OUTSOURCING

DID NOT SUBMIT RESOLUTION PASSED BY BOARD WITH RESPECT TO RELATED PARTY TRANSACTIONS

DID NOT UNDERTAKE DUE DILIGENCE OF THE VENDORS AND DID NOT REVIEW IT ANNUALLY  		IMPOSED PENALTY RS.1,00,00,000

23-JUN-2025 		 
17 19-MAY-2025
History of entity/person ACKO GENERAL INSURANCE LTD.   
  IRDAI  MADE PAYMENTS TO OLA FINANCIAL SERVICES PVT.LTD. IN LIEU OF COMMISSION/REMUNERATION AND REWARDS, TRIED TO SOLICIT INSURANCE POLICIES VIOLATING SECTION 40(1) OF INSURANCE ACT, 1938

INSURER AND HOLDING COMPANY ENTERED INTO AGREEMENT FOR ADVERTISEMENT WITH CORPORATE AGENT FOR API AND MARKETING ACTIVITIES AND PAID MORE THAN THE PRESCRIBED LIMIT VIOLATING REGULATION 6(C) OF IRDAI (PAYMENT OF COMMISSION OR REMUNERATION OR REWARD TO INSURANCE AGENTS & INSURANCE INTERMEDIARIES) REGULATIONS, 2016

OUTSOURCING PAYMENTS NOT REPORTED TO AUTHORITY UNDER “OUTSOURCING RETURNS” AS PER REGULATION 21 OF IRDAI (OUTSOURCING OF ACTIVITIES BY INDIAN INSURERS) REGULATIONS, 2017

DID NOT ESTABLISH THAT THEIR OUTSOURCING COMMITTEE DELIBERATED UPON COST BENEFIT ANALYSIS OF SUCH ARRANGEMENT VIOLATING REGULATION 15(D) OF IRDAI (OUTSOURCING OF ACTIVITIES BY INDIAN INSURERS) REGULATIONS, 2017  		IMPOSED PENALTY RS.1,00,00,000

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

19-MAY-2025 		 
18 09-APR-2025
History of entity/person HERITAGE HEALTH INSURANCE TPA PVT.LTD.   
  IRDAI  DID NOT FORWARD QUERY LETTER TO POLICYHOLDER BEFORE CLOSING THE CLAIM VIOLATING REGULATION 3(1) (A) OF IRDAI (TPA-HEALTH SERVICES) REGULATIONS, 2016

INTIMATED THAT THE CLAIMS ARE CLOSED INSTEAD OF REPUDIATED DUE TO NON–SUBMISSION OF DOCUMENTS VIOLATING REGULATION 27(V) OF IRDAI (HEALTH INSURANCE) REGULATIONS, 2016  		CENSURED/WARNED & DIRECTED/ADVISED TO BE DILIGENT IN COMPLYING WITH ALL THE ACTS, REGULATIONS ETC.

09-APR-2025 		 
19 07-APR-2025
History of entity/person FLIPKART INTERNET PVT.LTD.   
  IRDAI  DID NOT HAVE ADEQUATE NUMBER OF SPECIFIED PERSONS TO ENSURE BOTH EFFECTIVE SOLICITATION AND PROPER SERVICING OF POLICYHOLDERS VIOLATING REGULATION 14(V) AND CLAUSE 3 OF SCHEDULE III READ WITH REGULATION 26 OF IRDAI (REGISTRATION OF CORPORATE AGENTS) REGULATIONS, 2015

SOLICITED AND PROCURED RETAIL INSURANCE BUSINESS AFTER EXPIRY OF CERTIFICATE OF REGISTRATION VIOLATING CLAUSE 3(II)(A) OF SCHEDULE III READ WITH REGULATION 26 OF IRDAI (REGISTRATION OF CORPORATE AGENTS) REGULATIONS, 2015

MISUSED INSURANCE SELF NETWORK PLATFORM CERTIFIED PLATFORM BY INTEGRATING IT WITH INSURANCE INTERMEDIARY’S WEBSITE INSTEAD OF DIRECTLY WITH INSURERS VIOLATING CLAUSE 15.1(B) OF (INSURANCE E-COMMERCE) GUIDELINES, 2017  		IMPOSED PENALTY RS.1,06,00,000

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

07-APR-2025 		 
20 19-FEB-2025
History of entity/person UIB INSURANCE BROKERS (INDIA) PVT.LTD.   
  IRDAI  SIGNIFICANT DELAY IN REMITTANCE TO CEDANTS / REINSURERS / REINSURANCE BROKERS VIOLATING SCHEDULE II-FORM U (F) OF IRDAI (INSURANCE BROKERS) REGULATIONS, 2018  IMPOSED PENALTY RS.1,00,00,000

DIRECTED TO UNDERTAKE A REVIEW OF ALL PENDING REMITTANCES AND FILE ACTION TAKEN REPORT INCLUDING STATUS OF PENDING REMITTANCES

DIRECTED TO REVIEW INTERNAL CONTROLS AND IDENTIFY DEFICIENCIES IN PROCESSES AND DRAW ACTION PLAN TO ENSURE THAT ISSUES ARE ADDRESSED AND CORRECTIVE ACTIONS ARE IMPLEMENTED TO BRING AVERAGE DELAY WITH MANDATED TURNAROUND TIMES

19-FEB-2025 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
 
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