Irdai imposes Rs 3.39 cr penalty on Star Health Insurance

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.