Indian Insurance regulator IRDA (Insurance Regulatory and Development Authority on recently imposed a penalty of Rs. 5 lakh on HDFC Standard Life for delaying settlement of claim and has asked the insurer to streamline its processes.
IRDA said in its order, considering the nature of the violation, the authority has come to the conclusion that it is just and proper to impose a penalty of Rs. 5 lakh on HDFC Standard Life Insurance.
IRDA said in its order, considering the nature of the violation, the authority has come to the conclusion that it is just and proper to impose a penalty of Rs. 5 lakh on HDFC Standard Life Insurance.
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