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INSURANCE COMMISSION CURBS
Banks also count cost of insurance payout curbsCentral Bank of India anticipates a 33% decline in bancassurance fees due to proposed regulations. Canara Bank expects a ₹145-crore hit to ...- Motor insurers seek third-party premium deregulation, end to knock-for-knock pactsIn responses to the regulator's consultation paper on insurance distribution reforms, some industry participants said automobile manufactur...
- India insurance regulator to oversee smooth transition to new commission rules, chairman saysIndia's insurance regulator, the IRDAI, plans to implement reforms for insurance sales to improve the market. Proposed changes include capp...
- IRDAI may allow transition period for insurance fee capIRDAI Chairman Ajay Seth said the regulator is examining industry feedback on a consultation paper that is open until October 25, while mai...
- Reducing commissions may help curb mis-selling of insurance products; IRDAI’s role remains crucialThe Insurance Regulatory and Development Authority of India has announced new proposals to limit commission rates for insurance distributor...
- IRDAI’s insurance distribution paper: Economics in focus, consumer protection gaps remainRules and caps can change behaviour. Incentives determine whether organisations merely comply with the rules or actually change the behavio...
- IT firms cut H-1B reliance; Anthropic flags AI risks in IPO filingTop Indian IT firms have sharply cut H-1B visa filings as rules tighten. This and more in today’s ETtech Top 5.
- In Iowa, soaring cancer rates emerge as a key midterms issueCancer has emerged as an unusual bipartisan campaign issue in Iowa’s midterm races as the state confronts the second-highest cancer rate in...
- IRDAI pushes LIC, SBI Life to seek further cost efficiencyInsurers like Life Insurance Corp and SBI Life need to improve cost efficiencies under new regulatory guidelines. The proposals suggest low...
- IRDAI insurance commission curbs: Why the industry is facing a reckoningThe IRDAI's move to tighten commission caps in India's insurance sector has sparked considerable attention. Despite previous regulatory att...
- More insurance, less salesmanship: IRDAI proposed commission caps are neededIRDAI’s proposed caps on distribution commissions may face industry resistance after removal of earlier caps. The aim of the proposal is to...
- Insurance mis-selling is arising because upfront commissions are too high: IRDAI chairman Ajay SethIRDAI chairman Ajay Seth said insurers should pass savings from lower commissions and operating costs to policyholders through lower premiu...
- Insurance mis-selling is arising because upfront commissions are too high: Ajay Seth, Chairman, IRDAIThe benefit of cost efficiency should be passed on to customers. This entire exercise is intended to ensure that the public and policyholde...
- IRDAI's commission reset impact; ETSA winner Progcap’s next betHappy Friday! IRDAI's overhaul plan could significantly impact the new-age insurance distribution industry. This and more in today’s ETtech...
- Irdai commission curbs spark sharp selloff in insurers, banks and NBFCsShares of insurers, banks, and non-banking finance companies dropped sharply following proposed commission caps by Irdai. The proposals rai...
- PB Fintech forced to rethink business plan as India insurance commissions cap comes as a major shockerProposed commission caps from the Insurance Regulatory and Development Authority of India could severely impact PB Fintech's revenue. The c...
- IRDAI proposals on insurance’s money machine leads to bloodbath for stocks: What happens to your moneyInsurance premiums may decrease if the Insurance Regulatory and Development Authority of India implements proposed commission changes. Prop...
- Overall insurance pie has not expanded as expected: HDFC Life MD and CEO Vibha PadalkarHDFC Life CEO Vibha Padalkar highlights intense competition and rising costs in open architecture. She believes credit life policies are vi...
- 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...
- Health cover hurdle for elderlyThe elderly will find it hard to buy health insurance with the public sector insurers bringing down agent commissions by more than a third ...
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