Irdai's Rs 3.39 Cr Penalty on Star Health Insurance
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Irdai imposed a Rs 3.39 crore penalty on Star Health Insurance for violating Information & Cyber Security Guidelines. The insurer also received a warning from the regulator.
Illustration: Uttam Ghosh/Rediff.com
New Delhi, Jul 25 (PTI) Regulator Irdai on Friday said it has imposed a Rs 3.39 crore penalty on Star Health and Allied Insurance for various violations of Information & Cyber Security Guidelines.
The Insurance Regulatory and Development Authority (Irdai) has also issued a warning to the insurer.
"Irdai...has imposed a penalty of Rs Three Crore Thirty-Nine Lakhs and a warning for various violations established under Irdai Information & Cyber Security Guidelines, 2023," the regulator said in its order on Star Health and Allied Insurance.
Star Health Insurance has a strong multi-channel distribution network, with 913 offices, over 14,000 network hospitals, more than 7,75,000 licensed agents, and 17,000 employees.
In 2024-25, Star Health's gross written premium stood at Rs 17,553 crore, with its net worth at Rs 8,668 crore.
The Insurance Regulatory and Development Authority (Irdai) has also issued a warning to the insurer.
"Irdai...has imposed a penalty of Rs Three Crore Thirty-Nine Lakhs and a warning for various violations established under Irdai Information & Cyber Security Guidelines, 2023," the regulator said in its order on Star Health and Allied Insurance.
Star Health Insurance has a strong multi-channel distribution network, with 913 offices, over 14,000 network hospitals, more than 7,75,000 licensed agents, and 17,000 employees.
In 2024-25, Star Health's gross written premium stood at Rs 17,553 crore, with its net worth at Rs 8,668 crore.
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