IRDAI Fines Edelweiss Life ₹1 Crore for Corporate Governance Violations:
The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty of ₹1 crore on Edelweiss Life Insurance Company. The fine was levied following the company’s failure to adhere to corporate governance guidelines, particularly those related to outsourcing norms and policyholder KYC compliance.The issue has garnered attention after IRDAI, in its recent order dated June 25, 2025, revealed regulatory lapses committed by Edelweiss Life Insurance. This decision reaffirms the regulator’s intent to tighten compliance in the insurance industry, ensuring that policyholders’ interests and systemic transparency remain protected.
