By NNN-PTI,
New Delhi : Insurance regulator IRDA has asked insurance companies to cease the policies of persons whose identity matches the profile of those listed in the UN list of terrorists or organisations involved in terror funding.
“In case any matching records are identified…insurance companies shall immediately (freeze policies) and in any case within 24 hours of identifying a match, inform full particulars of the insurance policies…to ministry of home affairs,” IRDA said in a communication to all insurers.
The RBI and SEBI have already issued similar guidelines to prevent money laundering and terror funding to banks and stock exchanges.
The UN list contains the name of various terrorist and terror organisations, including underworld don Dawood Ibrahim, who has been accused of funding the activities of banned terror outfit Al Qaeda.