#insurance-reforms
Tighter mis-selling rules, easier insurance buying and more: 4 prominent changes proposed by IRDAI that could affect policyholders the most
The IRDAI has proposed transformative reforms to enhance insurance distribution in India, focusing on affordability and transparency. Key changes include limits on insurer expenses, greater disclosure of commissions, and measures to reduce mis-selling. While …
Did your agent mis-sell insurance? IRDAI proposes clawing back their commission under new reforms
IRDAI has proposed commission claw-back when an insurance policy is found to have been mis-sold. The proposal also seeks to link salespersons to policies they sell and make mis-selling records publicly available, giving consumers more information before buyin…