The Economic Times

IRDAI may roll out insurance commission caps from January, overhaul distribution rules

India's insurance regulator intends to implement reforms for insurance distribution starting in January 2024. The proposed changes include capping commissions paid by insurers to brokers, aiming to lower consumer fees. Insurers have until October 25 to provide feedback on the proposals before regulations are finalized. These reforms seek to widen insurance penetration especially in rural areas and new markets.