The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty of ₹1 crore on Acko General Insurance.

The penalty was imposed by the regulator on the insurer for violating the provisions of regulations on outsourcing activities as well as norms on payment of commission or remuneration or reward to insurance agents and insurance intermediaries. 

“The order should be placed before the board of the insurer in the upcoming board meeting and the insurer shall provide a copy of the minutes of the discussion,’‘ the IRDAI said in its order. 

Acko General was also directed to submit an action taken report within 90 days from the date of the issue of the order. 

Published on May 20, 2025