IRDA penalised eight insurers in the financial year 2008-09 for various violations.
- Reliance General Insurance was charged the highest penalty of Rs 20 lakh
- India Assurance was penalised Rs 7 lakh
- National Insurance was penalised Rs 7 lakh under various counts.
- Max New York Life Insurance had to pay a penalty of Rs 5 lakh ,
- ICICI Lombard General Insurance had to pay a penalty of Rs 5 lakh ,
- IFFCO-Tokio General Insurance had to pay a penalty of Rs 5 lakh
- HDFC Ergo General Insurance had to pay a penalty of Rs 5 lakh
- United India Insurance was charged Rs 2 lakh
