Which institute fines Iffco Tokio, Royal Sundaram Rs 5 lakh? – InterviewSolution

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1.	Which institute fines Iffco Tokio, Royal Sundaram Rs 5 lakh?
Answer» 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.

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