Star Health shares hit 52-week low amid IRDAI probe into claims settlement lapses

Shares of Star Health and Allied Insurance Company plummeted to a fresh 52-week low on Tuesday, March 25, following revelations of serious lapses in the company’s claims settlement practices by the Insurance Regulatory and Development Authority of India (IRDAI), according to sources.

A recent inspection by IRDAI into Star Health’s claims settlement processes uncovered significant irregularities, as reported by CNBC-TV18. The regulatory body is expected to take action against the insurer once the investigation concludes.

Star Health has issued a…