 "What is Insurance Regulatory and Development Authority of India (Irdai) ?")
IRDAI
What is Insurance Regulatory and Development Authority of India (Irdai) ?
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Latest Updates on IRDAI
Irdai introduces four-layer motor insurance structure from December 15
Motor insurance will have four separate covers, including third-party liability, cover for passengers, personal accident cover and protection against damage to the insured vehicle
 "Irdai introduces four-layer motor insurance structure from December 15")
Irdai cuts share transfer approval fee by 80% to ₹10 lakh for insurers
Insurance regulator Irdai has reduced the share-transfer approval fee from ₹50 lakh to ₹10 lakh and clarified compliance requirements for insurer IPOs, ESOPs and amalgamations
 "Irdai cuts share transfer approval fee by 80% to ₹10 lakh for insurers")
PB Fintech slumps 7% as ad spends bite in Q2; analysts say worst priced in
PB Fintech reported a strong Q2 FY27 with revenue up 35 per cent year-on-year (YoY) at ₹2,178 crore and profit after tax (PAT) up 43 per cent YoY at ₹192 crore.
 "PB Fintech slumps 7% as ad spends bite in Q2; analysts say worst priced in")
NBFCs brace for hit from Irdai's insurance distribution overhaul
Shriram Finance expects a Rs 100 crore reduction in insurance commissions, while Piramal Finance estimates an 18-24 basis point impact on return on assets if Irdai's proposed rules take effect
 "NBFCs brace for hit from Irdai's insurance distribution overhaul")
How Indian banks are planning to offset Irdai's insurance commission cuts
Irdai has proposed product- and channel-specific caps on insurance commissions, lower expense limits for insurers; banks are exploring mutual funds and forex to offset potential income losses
 "How Indian banks are planning to offset Irdai's insurance commission cuts")
Insurance must grow 1.5-2x faster than GDP: Irdai chief Ajay Seth
Ajay Seth says India's insurance sector must grow 1.5-2 times faster than the economy, with faster claims settlement, greater transparency and lower distribution costs key to expanding coverage
 "Insurance must grow 1.5-2x faster than GDP: Irdai chief Ajay Seth")
Big part of health insurance is a pull product, not push: Irdai's Ajay Seth
At the BFSI Insight Summit 2026, Irdai chief Ajay Seth called for transformative reforms to help insurance grow up to twice as fast as India's economy, with faster claims and wider coverage
Proposed Irdai norms need a longer glide path, say life insurance leaders
Business Standard BFSI Insight Summit: Life insurance industry leaders called for phased transition to proposed distribution reforms, saying insurers need time to adjust costs while expanding coverage
 "Proposed Irdai norms need a longer glide path, say life insurance leaders")
Dynamic pricing works for airlines, not insurance, says Irdai Chief
Speaking at the Business Standard BFSI Insight Summit 2026, Irdai Chairman Ajay Seth discussed the insurance sector's role in India's economic growth and the need for faster expansion and reforms
 "Dynamic pricing works for airlines, not insurance, says Irdai Chief")
Irdai extends feedback window for proposed insurance distribution reforms
The insurance regulator has received more than 650 comments on its proposals to revise expense limits and commission structures for insurers and distributors
 "Irdai extends feedback window for proposed insurance distribution reforms")
Banks weigh income impact of Irdai's proposed insurance commission caps
Banks are exploring higher policy sales and changes in product mix to offset potential fee income losses, while RBL Bank estimates a 50-60% decline in bancassurance income
 "Banks weigh income impact of Irdai's proposed insurance commission caps")
Irdai's proposed distribution reforms aim for orderly transition: Ajay Seth
Irdai chief Ajay Seth says distribution reforms aim to improve efficiency without disrupting existing business models; Public Insurance Registry beta is due by January 2028
 "Irdai's proposed distribution reforms aim for orderly transition: Ajay Seth")
Sebi writes to Irdai to include insurance data in consolidated statement
Sebi seeks to include insurance and bank deposit details in consolidated account statements to give investors a comprehensive view of their financial assets
 "Sebi writes to Irdai to include insurance data in consolidated statement")
Regulatory headwinds may cloud dealmaking in a buzzing insurance sector
Insurers and distributors have warned that the changes could constrain near-term growth, hit distributor revenues and affect employment
 "Regulatory headwinds may cloud dealmaking in a buzzing insurance sector")
Four reforms to enhance trust in insurance sector
From commission-free insurance plans to fee-only advisers and public complaint records, four reforms could improve transparency, curb mis-selling and help policyholders make informed choices
 "Four reforms to enhance trust in insurance sector")
A look at insurance sector reforms
What electronic trading exchanges and central depositories did for capital markets in 1996, and credit bureaus did retail banking in 2000s, Bima Sugam and PIR are set to do for the insurance turf now
 "A look at insurance sector reforms")
10% health insurance co-pay could push patients' bill burden to 15-19%
Insurers want a mandatory 10 per cent co-pay on retail health policies for lower premiums, but with non-payable costs, policyholders could end up paying 15-19 per cent of hospital bills.
 "10% health insurance co-pay could push patients' bill burden to 15-19%")
Irdai may roll out insurance distribution reforms in Jan 2027 amid backlash
The effective dates under consideration are Jan. 1 and April 1, Girija Subramanian, an executive at the Insurance Regulatory and Development Authority of India, said
Proposed distribution reforms may weigh on near-term growth: Icra
ICRA expects the impact of proposed commission caps and expense limits to become more visible in FY28, with health and life insurers and smaller players facing greater pressure
 "Proposed distribution reforms may weigh on near-term growth: Icra")
Life insurance NBP jumped 21% in Sepember; non-life premium up 6%
LIC and private life insurers drive strong new business premium growth, while general and health insurers lift non-life premiums despite a sharp decline in crop insurance collections
 "Life insurance NBP jumped 21% in Sepember; non-life premium up 6%")