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Policy▼ Bearish for SBI Life Insurance
Coverfox founder, brokers raise concerns over IRDAI insurance distribution overhaul
The brief
- Coverfox founder Sanjib Jha questioned IRDAI’s proposed commission cuts, including a 2% cap for loan-linked protection
- IBAI warned the overhaul could cause job losses and slower…
- Commission caps could affect insurance distributors and life insurers, including SBI Life and HDFC Life
IRDAI's proposed insurance distribution reforms
IRDAI proposed phased expense cuts, commission caps and a ban on compulsory insurance bundling with loans, prompting steep falls in insurance-distribution stocks. Insurers sought a glide path, while IRDAI said the proposals were not final and stakeholder feedback would be considered.
Wednesday, 30 September
- Coverfox founder, brokers raise concerns over IRDAI insurance distribution overhaul