Signal · Supply Chain & Logistics
Irdai fines ICICI Lombard Rs 1 crore for outsourcing, vendor management lapses
What the source reported
Source-reportedThe Insurance Regulatory and Development Authority of India has imposed a ₹1 crore penalty on ICICI Lombard General Insurance for lapses in outsourcing, vendor management and corporate governance. The regulator said the insurer failed to classify event management services involving agents of other insurers as outsourced activities or report related expenses.
- Publication
- The Economic Times - Industry · Trade Publication
- Published
- 7th September 2026
- Original report
- economictimes.indiatimes.com
ProcIntel stores what the source published in its feed — a headline, a summary and a link. It does not store or reproduce the full article.
What ProcIntel recorded
ProcIntel-derived- Category
- Supply Chain & Logistics
- Geography
- India
- Organisations
- None identified
- Collected
- 7th September 2026 · 22:49
Initial assessment ProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.
A provisional, automatically computed reading of this individual Signal, before Event extraction or human review. Not a final rating.
Initial Significance Low (11.0/100). Strongest contributor: Procurement Impact (6.0/30 points). Limiting factor: Geographic Breadth (0.0/10 points). Initial Confidence Low (25.5/100, data sufficiency: Insufficient). Strongest contributor: Source Authority (20.0/40 points). Limiting factor: Specificity (0.0/20 points).
- Strongest contributor
- Procurement Impact
- Limiting factor
- Geographic Breadth