IRDAI has imposed a penalty of Rs. Five Crore on M/s Policybazaar Web Aggregator Pvt. Ltd. (Now known as "M/s Policybazaar Insurance Brokers Pvt. Ltd.") along with Direction, Advisory and Caution for various violations established under Insurance Act, 1938 and Rules and Regulations made thereunder in exercise of the powers under Section 102 of the Insurance Act, 1938.
The order was issued on August 4th, 2025 in Hyderabad.
Key Entities Referenced
IRDAI: The Insurance Regulatory and Development Authority of India, the regulator that imposed the penalty.
Insurance Act, 1938: The primary legislation under which the penalty was imposed and powers were exercised.
Section 102 of the Insurance Act, 1938: The specific section of the Insurance Act, 1938 that grants IRDAI the powers exercised.
Policybazaar Web Aggregator Pvt. Ltd. (Now known as M/s Policybazaar Insurance Brokers Pvt. Ltd.): The entity on which the penalty was imposed.
प्रेस िवज्ञ��
Press Release
मेससर् पॉिलसीबाज़ार वेब एग्रीगेटर प्राइवेट िलिमटेड (वतर्मान में "मेससर् पॉिलसीबाजार इं�ोरेंस
ब्रोकसर् प्राइवेट िलिमटेड" के नाम से प्र�ात) के मामले में आदेश
Order in the matter of M/s Policybazaar Web Aggregator Pvt. Ltd. (Now known
as "M/s Policybazaar Insurance Brokers Pvt. Ltd.")
आईआरडीएआई ने बीमा अिधिनयम, 1938 की धारा 102 के अधीन प्रद� श��यो ं का प्रयोग करते
हुए, मेससर् पॉिलसीबाजार वेब एग्रीगेटर प्राइवेट िलिमटेड (वतर्मान में "मेससर् पॉिलसीबाजार इं�ोरेंस
ब्रोकसर् प्राइवेट िलिमटेड" के नाम से प्र�ात) पर बीमा अिधिनयम, 1938 और उसके अधीन �ािपत
िविभ� िनयमो ं और िविनयमो ं के उ�ंघनो ं के िलए िनदेश, परामशर् और चेतावनी के साथ पांच करोड़
रुपये का जुमार्ना लगाया है।
IRDAI in exercise of the powers under Section 102 of the Insurance Act, 1938, has
imposed a penalty of Rs. Five Crore on M/s Policybazaar Web Aggregator Pvt. Ltd.
(Now known as "M/s Policybazaar Insurance Brokers Pvt. Ltd.") along with Direction,
Advisory and Caution for various violations established under Insurance Act, 1938 and
Rules and Regulations made thereunder.
�ान / Place: हैदराबाद / Hyderabad
िदनांक / Date: 04 अग� / 4th August, 2025