IRDA fines 10 insurers

The Insurance Regulatory and Development Authority (Irda) has fined 10 insurance companies, including both the insurance arms of the Bajaj Auto Group, Reliance General, United India, Iffco-Tokio, New India Assurance and Shriram Life for non-compliance with various guidelines.
More on - IRDA fines 10 insurers and Watchdog penalises top insurers

One might ask .. what is IRDA anyways ?
IRDA is established by Parliament(India) to protect the interests of the policyholders, to regulate, promote, and ensure orderly growth of the insurance industry.

To know more about IRDA, visit http://www.irdaindia.org/