IRDAI considers changing commission structures to stop insurance mis-selling
According to a Reuters report, the IRDAI is looking into adjusting how insurance commissions are paid to prevent the mis-selling of policies. The regulator is suggesting that distributors receive payments throughout the duration of a policy rather than getting big lump sums at the start. This strategy is also intended to lower distribution expenses and bring the Indian insurance industry in line with international standards seen in the US, UK, and Europe.
by shortkt.com✓