New Delhi, July 16 -- The Insurance Regulatory and Development Authority of India (IRDAI) has established specialised panels comprising its whole-time members to adjudicate violations by insurance companies and intermediaries.

The decision was announced following the Authority's meeting held on July 14 at its headquarters.

The formation of these panels represents a strengthening of IRDAI's enforcement capabilities, specifically targeting violations of the Insurance Act and related regulations.

This development comes at a time when the insurance sector faces increased scrutiny over mis-selling practices and concerns regarding claim settlement procedures.

The regulatory action follows reports indicating that government authorities are s...