Economic TimesLean R·
Irdai fines ICICI Lombard Rs 1 crore
Mumbai: The Insurance Regulatory and Development Authority of India (Irdai) has imposed a ₹1 crore penalty on ICICI Lombard General Insurance for lapses in outsourcing practices, vendor management and corporate governance during an inspection conducted in 2019.The penalty relates to payments made by the insurer under the head 'sales marketing and business support.' During FY19, ICICI Lombard had incurred ₹709.57 crore under this head, of which the insurer said that about ₹35-37 crore was paid t…
Read at Economic Times →
