Insurance Commission
Latest news, explainers and analysis on Insurance Commission. Tracking 4 stories on Arth Vani.
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Latest on Insurance Commission
BreakingNBFCs, HFCs May Hike Lending Rates, Fees After IRDAI Cuts Insurance Commissions
Non-bank lenders and housing finance companies (HFCs) are expected to increase their lending rates and fees soon. This move comes as they plan to offset potential income losses due to new regulatory changes from the Insurance Regulatory and Development Authority of India (IRDAI). The IRDAI's proposed changes involve stricter commission caps on credit-linked insurance products.
Go Digit flags IRDAI rules causing 'unintended' commission rise
Go Digit General Insurance has stated that new regulations from the IRDAI concerning expenses of management (EoM) have inadvertently led to an increase in commissions paid to intermediaries. The company believes these rules, aimed at controlling costs, have had the opposite effect.
Banks, SFBs Urge IRDAI for Transition Time on Insurance Commission Rules
Indian banks and Small Finance Banks (SFBs), represented by the IBA and ASFBI, have approached the IRDAI regarding new insurance commission regulations. They are seeking additional time for a smooth transition to these revised norms, highlighting potential operational adjustments needed across the sector.
IRDAI Considering New Rules for Insurance Agent Commissions
India's insurance regulator, IRDAI, is reportedly mulling changes to the commission rules for agents and distributors. While specific details are yet to be disclosed, these revisions could significantly impact agent earnings, policy pricing, and distribution strategies across the sector.
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