IRDAI plans to make insurance commission disclosures compulsory
According to a Moneycontrol report, the IRDAI is preparing significant changes to how insurance is distributed. These updates include requiring the disclosure of commission models, along with incentives tied to persistency and effort-based payments. The regulator aims to implement these reforms by January 2027. Additionally, the IRDAI intends to introduce varied remuneration structures across different distribution channels to boost transparency. A consultation paper regarding these proposals is expected to be published by the end of July.
by shortkt.com✓