IRDAI imposes penalty of Rs 1 crore on ICICI Lombard
30th Jan 2020

The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty of Rs 1 crore on ICICI Lombard General Insurance Company for violation of various norms. The regulator has slapped the penalty on ICICI Lombard for violation of certain provisions related to health insurance policies. IRDAI has also issued certain directions and advisory to the company.

ICICI Lombard General Insurance Company offers its customers a comprehensive and well-diversified range of products, including motor, health, crop/weather, fire, personal accident, marine, engineering and liability insurance, through multiple distribution channels.