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Policy▼ Bearish for LIC
IRDAI’s proposed distribution norms ruffle feathers of LIC agents, broker body
The brief
- LIC agents and a broker body object to IRDAI’s proposed distribution norms
- They warn cost efficiency should not reduce active agents or make the profession economically unsustainable
- Distribution changes could affect LIC and other Indian life insurers’ agent networks and costs
- LIC CFO Shatmanyu Shrivastava to retire; 4 senior officials also departing
- Kotak, BoB, PB Fintech: Macquarie Upgrades Nine Stocks, Downgrades One — Check Full List, Target Prices
- Reading Between The Lines: Were You Mis-Sold A Policy? IRDAI's Proposed Checklist Shows You How To Tell
- Son died, LIC denied father Rs 5 lakh over heart condition; Commission orders payout with interest
- Stock Alert: HCL Tech, Prasol Chemicals, NCC, Rays of Belief
IRDAI's proposed insurance distribution reforms
IRDAI proposed phased cuts to insurers’ expense limits, commission caps and a ban on compulsory insurance bundling with loans. Insurers and brokers sought changes, while PB Fintech shares fell 42.69% in four sessions; its latest report cites a 30% revenue risk from draft rules.
Wednesday, 30 September
- IRDAI’s proposed distribution norms ruffle feathers of LIC agents, broker body