IRDAI imposed penalty on ICICI Pru Life

The Insurance Regulatory and Development authority of India (IRDAI) has imposed a penalty of Rs 20 lakh on ICICI Prudential Life Insurance Company on various charges.

The charges include free look cancellations not being in line with regulations and delay in processing surrenders/partial withdrawals.

Takeaways from above News-
  • IRDAI headquarter is in Hyderabad, Telangana
  • IRDAI was established  in 2002
  • T S Vijayan is the chairman of IRDAI

If you have any other takeaways, do share with us in the comment section

Source- Business Standard

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