Current Affairs - Miscellaneous - Discussion

The Insurance Regulatory and Development Authority of India (IRDAI) imposed fine of Rs 5 lakh each on Iffco Tokio General Insurance and Royal Sundaram General Insurance for violating motor tariff claims and file & use guidelines. IRDAI also informed the companies violated File & Use guidelines and circulars issued by it from time to time advising insurers that they shall continue to use the coverage, terms & conditions, wordings, warranties, clauses and endorsements of the erstwhile tariff of classes of insurance covers until further orders.