LIC, HDFC Standard & Bharti AXA draw Irda ire

Apex insurance controller Insurance Regulatory & Development Authority (Irda) has said, on the rural sector front, all 21 life insurers have fulfilled their obligations, except HDFC Standard. The number of policies underwritten by them in the rural sector as a per cent of the total policies underwritten in the year 2008-09 was as per the obligations applicable to them. However, Life Insurance Corporation (LIC) is non-compliant with its obligations in the rural sector as it underwrote a lower number of policies, than the prescribed 25 % during 2008-09. In case of social sector obligations, all the 21 private life insurance ...

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