 "Irda slaps Rs 2 lakh fine on Future Generali Life Insurance")
Insurance Regulatory and Development Authority (Irda) has imposed a penalty of Rs 2 lakh on Future Generali India Life Insurance for violation of certain norms of the Insurance Act, 1938.
The private life insurer was fined Rs 1 lakh each for payment of commissions to two of its corporate agents, which was over and above the permissible commission limits as per the Act.
The private life insurer was fined Rs 1 lakh each for payment of commissions to two of its corporate agents, which was over and above the permissible commission limits as per the Act.