News From Press Irdai imposes Rs 51 lakh penalty on 4 insurers

Irdai imposes Rs 51 lakh penalty on 4 insurers

Source: PTI/The Economic Times Apr 19, 2021

Regulator Irdai has imposed a penalty of Rs 51 lakh on four insurers, including SBI General Insurance Company, for violation of certain norms related to motor insurance.

A penalty of Rs 25 lakh has been imposed on SBI General Insurance Company for not fulfilling regulatory obligations under the Motor Third Party (MTP) business.

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