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IRDAI COMMISSION CAPS
Irdai proposes product-wise commission caps, lower expense limits for insurersIrdai has proposed an overhaul of the commission payment structure for insurance distributors across various products. This new framework a...- ₹1 crore penalty on Canara HSBC Life Insurance Company over mis-selling of a deferred annuity policy to an 88-year-old senior citizenAn 88-year-old was sold a deferred annuity policy despite age restrictions, leading to a Rs 1 crore penalty for Canara HSBC Life. IRDAI fou...
- Curb misselling, not agents: Insurance reform needs a scalpel, not a hammerIndian insurance regulators are rethinking intermediary payment structures to reduce misselling. Proposed reforms aim to lower distribution...
- Is ₹5-10 lakh health insurance cover enough? Check these 3 factors to know how much you needHealthcare costs in India are soaring due to escalating medical inflation. Experts warn that securing adequate health insurance is no longe...
- Insurance regulator IRDAI plans overhaul of commission rules to curb mis-selling, sources sayIndia's insurance regulator is set to overhaul distributor commissions, proposing payments spread over a policy's life to curb mis-selling ...
- Two general insurance licences approved since 100% FDI move by govt: Irdai chairman Ajay SethIndia's insurance regulator has greenlit two proposals for 100% foreign ownership in general insurance firms, following the government's FD...
- Commission caps to pose existential threat to insurance distributors: Policybazaar’s Yashish DahiyaPolicybazaar faces potential business disruption from IRDAI's proposed commission caps, prompting consideration of an insurance manufacturi...
- PB Fintech shares decline 6% amid reports of regulatory push to cap insurance agent commissionsPB Fintech shares fell amid concerns that the proposed Insurance Bill 2025 could allow IRDAI to cap insurance agent commissions, raising re...
- Tax department probes over 20 insurers over breach of expense limitsThe Income Tax Department is scrutinising over 20 insurance firms—around 5–6 life insurers and 15 general insurers—for potential breaches o...
- Irdai steps up scrutiny of insurers exceeding expenses capIrdai has initiated quarterly monitoring for eight insurers exceeding their 30% expenses of management limits to enforce financial discipli...
- Insurers in breach of guidelines on management expenses face curbsThe regulatory crackdown follows a sharp rise in commission expenses after the removal of product-specific commission caps in April 2023. L...
- Insurers report rise in commission expensesIn FY24, commission expenses for life insurers increased by 22% and doubled for general insurers after IRDAI removed caps on commission pay...
- Bank assurance sought to curb misselling of insurance productsSome of the measures being considered may include a cap on commission charges paid to banks for selling insurance products, stricter disclo...
- IRDAI's new rules for commission payouts may lead to better pricingWhile the Payment of Commission Regulations, 2023, removes previous caps on payments, the Expenses of Management (EOM) Regulations, 2023, a...
- IRDAI regulations could fasten insurance growth: MillimanLast month the regulator announced a slew of changes in products, distribution, capital requirements, giving insurance companies the option...
- Insurers may pass on commission costsLast week, Irdai proposed to lift the ceiling on commissions on individual lines of non-life business subject to an overall cap of 20%. The...
- Irdai changes key rules for insurersThe regulator has also decided to allow insurance companies to tap fund raising options, like through the debt market, without prior approv...
- Regulations for commission of insurance brokers likely in March"A sub-committee will decide on the quantum of cap on commission, though this and other remunerations for insurance brokers cannot be remov...
- Insurers seek more time from IRDAI on management control issueInsurers are seeking more time to report whether their companies are being managed by the Indian promoters or not.
- Insurers seek more time from IRDAI on management control issueThe JV agreements are already there between foreign partners and domestic partner, but they have to give certain clarification on the issue.
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