News Regulations25 Jun 2019

India:Insurance broker has license cancelled after violation of rules


Insurance Regulatory and Development Authority of India (IRDAI) has cancelled the licence of SB Insurance Brokers with immediate effect after the latter violated norms, reported local publication Moneycontrol.com. According to IRDAI's decision, it was not in the interest of policyholders or the insurer to permit the broker to continue operations in the market.

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