The Insurance Regulatory and Development Authority (IRDA) on Wednesday imposed a penalty of 3.10 crore rupees on Bajaj Allianz Life Insurance for violation of various norms, including thoserelated to early-death claims and group insurance.In a order, the IRDA has asked the company to pay the fine within 15 days. The regulator also warned the company against wrongful claim practices and directed to ensure settlement of claims in fairness, both as per terms and conditions of the policy contract.The regulator said, Bajaj Allianz also violated norms by entering into referral arrangements with entities that were not licensed to act as corporate agents or insurance intermediaries for the sale of group insurance products