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IRDAI slaps Rs 1.11 crore penalty on Policybazaar

Updated : August 29, 2019 07:33 AM IST

The regulator has directed the firm to deposit the penalty within 15 days from the receipt of the order.
The insurance regulator said that Policybazaar entered into a partnership with 'Indian Health Organization by Aetna' (IHO), a non-insurance entity, to offer incentives to its customers in violation of rules.
IRDAI also said that Policybazaar displayed IHO’s services on its website in violation of regulations.
IRDAI slaps Rs 1.11 crore penalty on Policybazaar
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