The brief
- IRDAI proposed guidelines to reshape commission and expense structures for insurance distribution
- The plan aims to curb mis-selling and raise returns
- Changes to distribution costs and commissions may affect Indian insurers and insurance distributors
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- Irdai commission cap plan sparks concern among insurance brokers
- ICICI Prudential Life names Siddhartha Mishra MD & CEO as Anup Bagchi steps down
- Taking stock of IRDAI’s distribution reset
- Health insurance premiums: What leading insurers charge for a plan
IRDAI’s proposed insurance distribution reforms
IRDAI proposed phased cuts to insurers’ expense limits, commission caps and a ban on compulsory loan-linked insurance bundling, aiming to curb mis-selling and raise policyholder returns. The proposals prompted sharp falls in insurance-related stocks, including PB Fintech, and objections from brokers, agents and insurers over their effects on business and distribution.
Saturday, 3 October
- Irdai plan to help check mis-selling, raise returns