Comments
The Insurance Regulatory and Development Authority (IRDA) has imposed a Rs 1 lakh penalty on New India Assurance Company Ltd for non-refund of mediclaim (a health insurance policy) from a policy holder.
One of the policy holders of New India Assurance had approached the regulator complaining that the mediclaim amount was not refunded to him as he was staying outside India during the period of the policy.
As the company failed to respond to IRDA's directive on the complaint, the penalty was imposed, Mr J Hari Narayan, Chairman, IRDA said in an order.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.