Irdai

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

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

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

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

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

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

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.

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

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

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

Risk sharing

Insurance copayment will not address deeper problems

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

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

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

Public policies against the public interest

Irdai seeks tighter controls on insurers' costs and commissions

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

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