The total number of insurance policies that lapsed in the public and the private sector rose to 1.40 crore during 2010-11 from 1.23 crore in the previous fiscal.
According to the Insurance Regulatory Development Authority (IRDA), the total (public and private) number of insurance policies that lapsed during FY 2010-11 stood at 1.40 crore, with an assured sum of Rs 1.58 lakh crore.
This was against 1.23 crore policies with an assured sum of Rs 2.14 crore in FY2009-10.

The total number of policies sold in FY11 stood at 1.10 crore and there were 2,189 complaints of mis-selling registered with IRDA during the period.

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