The Insurance Regulatory and Development Authority of India issued orders against Acko General Insurance Limited and Niva Bupa Health Insurance Co. Limited for exceeding the expenses of management limits under the 2024 regulations. Following off-site monitoring, review of the insurers’ submissions and enforcement proceedings, the regulator warned both companies and prohibited them from opening new places of business for six months from the date of the respective orders. The limits cover operational expenses and distribution costs and are designed to control excessive expenditure and preserve sufficient premium income for insurance coverage and claims. Each insurer must place its order before its board at the next board meeting and submit the meeting minutes to the regulator within the stipulated period.
2026-08-20Insurance Regulatory and Development Authority of India
Insurance Regulatory and Development Authority of India sanctions Acko General Insurance and Niva Bupa Health Insurance for breaching expense limits
The Insurance Regulatory and Development Authority of India warned Acko General Insurance and Niva Bupa Health Insurance for exceeding regulatory expenses of management limits. Both insurers are barred from opening new places of business for six months and must present the orders to their boards.