Bajaj Allianz General Insurance controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
IRDAI fines Bajaj Allianz General Insurance
Fine or penalty
In 2021, India's insurance regulator, IRDAI, fined Bajaj Allianz General Insurance Rs 10 lakh. According to the regulator, the company had sold motor insurance policies through 90 unregistered entities, which was stated to be in violation of the Insurance Act and MISP guidelines. The penalty and the stated reason were reported in coverage of the regulatory action.
India’s insurance regulator, IRDAI, fined Bajaj Allianz General Insurance Rs 10 lakh, saying the company had sold motor insurance policies through 90 unregistered entities in violation of the Insurance Act and MISP guidelines.
Source excerpt
The regulator had said the company had sold the policies through 90 unregistered entities.
Bajaj Allianz General Insurance Company Ltd was fined Rs.10 lakh by the insurance regulator for violation of the Insurance Act and its Motor Insurance Service Provider (MISP) guidelines.