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???1 crore fine penalty: Why did IRDAI penalise Canara HSBC for mis-selling insurance to an 88-year old? What went wrong
1+ day, 14+ hour ago (407+ words) The Insurance Regulatory and Development Authority of India (IRDAI) has levied a ₹1 crore penalty on Canara HSBC Life Insurance Company Limited over mis-selling of a life insurance policy to an 88-year-old customer, according to a Moneycontrol report. The regulatory proceedings…...
A register can tell you who mis-sold an insurance policy. It cannot tell you why
1+ mon, 3+ day ago (667+ words) At the silver jubilee gathering of the insurance brokers' association in Delhi last week, insurance regulator Irdai's chairman, Ajay Seth, made a proposal that is hard to argue against: every policy should be traceable to the person who sold it,…...