 "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
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%")
Best of Opinion: More rate hikes imminent as RBI revises policy cycle
From the RBI's shift to calibrated tightening and health-insurance copayments to India's tax reform journey, aviation security, today's opinions examine policy trade-offs and institutional change
 "Best of Opinion: More rate hikes imminent as RBI revises policy cycle")
Risk sharing
Insurance copayment will not address deeper problems
 "Risk sharing")
RBI to firm up views on Irdai's proposed insurance commission overhaul
Governor Sanjay Malhotra says the RBI will submit comments on Irdai's draft commission framework, which proposes product-level caps and lower management expense limits
 "RBI to firm up views on Irdai's proposed insurance commission overhaul")
Irdai distribution overhaul could hit brokers' revenue by 70%: IBAI
Insurance brokers have sought a deeper assessment of Irdai's proposed distribution reforms, warning of a 60-70 per cent revenue impact and around 1 million jobs at risk
 "Irdai distribution overhaul could hit brokers' revenue by 70%: IBAI")
Insurance brokers oppose Irdai's proposed reforms, warn of job losses
The Insurance Regulatory and Development Authority of India proposed the rules as part of a discussion paper in late September and invited stakeholders to submit feedback by October 25
Irdai proposal may put 1 million livelihoods at risk: Brokers' body
The brokers' body said proposed commission caps and lower expense limits could hurt employment and competition while reviving unethical business practices
Irdai's distribution reforms may constrain smaller insurers: Acko CEO
ACKO CEO Animesh Das said uniform EoM limits across companies could restrict growth opportunities for smaller and newer insurers
 "Irdai's distribution reforms may constrain smaller insurers: Acko CEO")
Public policies against the public interest
Irdai seeks tighter controls on insurers' costs and commissions
 "Public policies against the public interest")
Irdai commission cap plan sparks concern among insurance brokers
Brokers say lower payouts may not necessarily translate into cheaper premiums and could instead squeeze servicing economics, trigger consolidation, and weaken insurance distribution
 "Irdai commission cap plan sparks concern among insurance brokers")
Insurers must compete on price, not distributor commission: Irdai chief
Irdai Chairman Ajay Seth says proposed insurance distribution reforms are not final and stakeholder feedback will be considered before draft regulations are issued
 "Insurers must compete on price, not distributor commission: Irdai chief")
IndusInd Bank targets 1.3% RoA, but insurance cuts pose earnings risk
Bank targets RoA of 1.25-1.30% over two years, but Jefferies says a 30% reduction in bancassurance fee income could lower profits by around 5%
 "IndusInd Bank targets 1.3% RoA, but insurance cuts pose earnings risk")
Irdai commission caps likely to hit jobs, weaken reach, cautions IBAI
Brokers' body says proposed commission caps and lower expense limits could lead to job losses, weaken independent distribution and hurt insurance access in smaller towns.