Karnataka High Court directs IRDAI to ensure Insurance Companies transfer unclaimed amounts to Senior Citizens Welfare Fund

The IRDAI informed the Court that it is keeping a strict watch over various insurance companies and the master circular regarding such transfers is being strictly enforced.
Insurance Companies
Insurance Companies

The Karnataka High Court on Wednesday directed the Insurance Regulatory and Development Authority of India (IRDAI) to ensure that all insurance companies transfer unclaimed amounts to the Senior Citizens Welfare Fund, in line with the master circular issued by the regulatory body in 2017.

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