The Hindu Business Line reported that the regulator examined 34 charges on a variety of aspects related to business and the newspaper alleged that the life insurer had violated many norms on various aspects of business.
It is said the alleged violation of these norms included not settling multiple claims for group insurance schemes, and continuation of corporate agency following licence expiry.
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According to The Hindu Business Line, the IRDA has further alleged that the insurer used unlicensed entities for procuring business, and authorised distribution of gift vouchers procured from Big Bazaar.
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