Home » NEWS UPDATES » IRDA fines six general insurers for non-adherence to corporate agency norms ( Maruti )
IRDA fines six general insurers for non-adherence to corporate agency norms ( Maruti )
Corporate agents used by Maruti Insurance to tieup with insurance companies, IRDA said in its ruling, are 99.9% subsidiary of Maruti Suzuki India and therefore they cannot tie-up with separate insurers. According to IRDA the six insurers failed to verify the compliance by the corporate agents while granting and renewing license to them. Companies are National, Bajaj, Royal Sundram, New India, ITGI and ICICI.
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