Representative image
| Photo Credit:
Avijit Sadhu
The Insurance Regulatory and Development Authority of India (IRDAI) imposed a penalty of ₹3.39 crore along with a warning on Start Health and Allied Insurance Company for violating norms pertaining to information and cyber security.
There has been increasing concern of late about violation of norms by the insurers including high-incidence of mis-selling.
In a move that could lead to stricter action for violation of norms, the IRDAI has recently formed special panels with whole-time members of the authority.
The panels were formed as part of enforcement function to decide on the violations observed as regards the provisions of Insurance Act and Regulations issued thereunder with respect to certain insurers/insurance Intermediaries.
Published on July 27, 2025
