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 Warnings and Penalties
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Warning
Ref: 65/CA/INSP/NL/NOV 2010 Date: 28-02-2013
Complaint No.1319/ICINL/COMP/09-10 pertaining to M/s ICICI Lombard General Insurance Company Ltd.
Shri Bhargav Dasgupta
MD & Chief Executive Officer
ICICI Lombard General Insurance Company Ltd.
ICICI Lombard House,
414, Veer Savarkar Marg,
Near Siddhi Vinayak Temple, Prabhadevi,
Mumbai – 400 025
 
 
Dear Sir,
 
Re:  General Inspection of complaint pertaining to M/s ICICI Lombard General Insurance Company Ltd., Noida – November, 2010; Complainant: M/s. Tara Jewels Pvt. Ltd. – Complaint No.1319/ICINL/COMP/09-10 – Trade Credit Insurance Claim under Policy No. 4031/0000001/02(E24079) – Violation of Regulations 5 of IRDA PPHI Regulations 2002
 
We draw your attention to your letter of 05.04.2011 explaining the reasons for delay in informing the Authority about the resolution of the complaint. The competent authority has taken serious note of your company’s violation of Regulation 5 of IRDA (PPHI) Regulations 2002 in the matter.
 
While no further charges are pressed for the moment, you are specifically advised to scrupulously adhere to IRDA PPI Regulations 2002 as well as the IRDA’s Grievance Redressal Guidelines ref.3/CA/GRV/YPB/10-11, dated 27.07.2010 in all matters of acknowledging, resolution and proper updating of complaints resolution process.
 
The receipt of this letter may be acknowledged.
 
 
Yours faithfully,
 
 
 
(Yegnapriya Bharath)
Joint Director
  
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