← Top stories
Policy● Neutral for Indian equities
Insurance commissions grew up to 6 times faster than premiums: What IRDAI wants to change
The brief
- IRDAI’s proposed overhaul targets insurance commissions that grew up to 6 times faster than premiums
- Commission changes could alter distribution economics for Indian insurers and insurance intermediaries
- IRDAI’s proposed distribution reforms can drive a mutual fund-like transformation in insurance, as SEBI did in 2009, says Kamesh Goyal, Go Digit chairman
- Cashless health insurance claims: What policyholders can do when hospitals and insurers clash over bills, approvals, and deductions
- Insurance mis-selling is arising because upfront commissions are too high: IRDAI chairman Ajay Seth
- After GST exemption, retail policy base rises 11% for Star Health
- Companies offering healthcare benefits see 13% drop in chronic claims, says report
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. The proposals prompted debate over premiums, mis-selling and distributor payouts, while reports highlighted possible earnings risks for PB Fintech.
Saturday, 26 September
- Insurance commissions grew up to 6 times faster than premiums: What IRDAI wants to change