The Economic Times

Insurance mis-selling is arising because upfront commissions are too high: IRDAI chairman Ajay Seth

IRDAI chairman Ajay Seth said insurers should pass savings from lower commissions and operating costs to policyholders through lower premiums, better returns or improved claims payouts. The regulators proposed tighter limits on commissions and expenses aim to improve affordability, curb mis-selling and reduce compulsory bundling.