Canara HSBC Life Insurance has received an order from the Insurance Regulatory and Development Authority of India following a show cause notice related to a social media post on policy misselling.

The regulator has levied a financial penalty of 1 Cr.

Additionally, the authority has issued specific directions requiring the submission of an action taken report within designated timelines.

Management has clarified that the financial impact is strictly limited to the penalty amount, with zero disruptions anticipated for ongoing business operations or activities.

The company remains committed to maintaining robust governance standards and protecting policyholder interests moving forward.