NEW DELHI: The government on Tuesday said insurance regulator IRDA has imposed penalties on 10 insurance companies, including Life Insurance Corporation, in the previous two financial years 2008-09 and 2009-10 for violation of regulations.
Besides LIC, the IRDA imposed penalties on Max New York Life, ICICI Lombard, National Insurance Company, United India Insurance, New India Assurance, Apollo Munich Health Insurance, HDFC Standard Life, Reliance General Insurance and General Insurance Corporation, finance minister Pranab Mukherjee informed the Rajya Sabha.