Irdai imposes Rs 51 lakh penalty on 4 insurers

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. Penalty of Rs 13 lakh imposed on Liberty General Insurance Limited, Rs 10 lakh penalty on Bajaj Allianz General Insurance Company, and Rs 3 lakh on Royal Sundaram General Insurance Company.

from Banking/Finance-Industry-Economic Times https://ift.tt/2QbM8XC