The Indian regulatory authority (IRDAI) [4] has fined four insurers for a total amount of 5.1 million INR (68 050 USD). The sanctioned companies are SBI General Insurance, Liberty General Insurance, Bajaj Allianz General Insurance and Royal Sundaram General Insurance.
This penalty follows the failure to comply with standards related to motor insurance.
Read also | Indian insurance market [5]
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[3] https://www.atlas-mag.net/en/issue/insurers-facing-the-giants-of-the-net
[4] https://www.atlas-mag.net/en/article/irdai-the-insurance-regulatory-authority-of-india
[5] https://www.atlas-mag.net/en/article/indian-insurance-market-the-regulatory-framework