Insight and Intelligence on the London & International Insurance Markets 23 Apr 2018
Irdai member castigated over Marsh 'kick-back' case
- 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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