The regulator flagged several shortcomings in the sale, including failures related to product suitability, solicitation, disclosures and the insurer’s internal controls.
Banking & Economics
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₹1 crore fine penalty: Why did IRDAI penalise Canara HSBC for mis-selling insurance to an 88-year old? What went wrong
The regulator flagged several shortcomings in the sale, including failures related to product suitability, solicitation, disclosures and the insurer’s internal controls.
Key Highlights
- The regulator flagged several shortcomings in the sale, including failures related to product suitability, solicitation, disclosures and the insurer’s internal controls.
- ₹ 1 crore by IRDAI over policy sale to 88-year-old (AI-generated image for representational purposes only)" width="600" height="338" fetchpriority="high" loading="eager"> Canara HSBC Life fined ₹1 crore by IRDAI over policy sale to 88-year-old (AI-generated image for representational purposes only)
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