Insight and Intelligence on the London & International Insurance Markets 24 Apr 2018

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Irdai member castigated over Marsh 'kick-back' case

  • Charlie Thomas 21 March 2018
  • India's Securities Appellate Tribunal (SAT) has accused a member of the country's insurance regulator of "virtually aiding and abetting corruption" in disregarding a case which alleges Marsh provided kick-backs to an insured in return for its business.

    In an unusually strongly worded order published last week, the SAT demanded that a case brought before the Insurance Regulatory and Development Authority of India (Irdai) be reheard, after it found the regulator's initial dismissal of the case was a "gross abuse of...

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