Mis Selling
Latest news, explainers and analysis on Mis Selling. Tracking 6 stories on Arth Vani.
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Latest on Mis Selling
BreakingHigh Upfront Commissions Fuel Insurance Mis-selling, Says IRDAI Chairman Ajay Seth
Ajay Seth, Chairman of the Insurance Regulatory and Development Authority of India (IRDAI), has identified high upfront commissions paid to agents as a key driver behind insurance mis-selling. This statement highlights a significant concern for policyholders, as such practices can lead individuals to purchase unsuitable or unnecessary insurance products.
BreakingHigh Upfront Commissions Fuel Insurance Mis-selling, Says IRDAI Chairman Ajay Seth
Ajay Seth, Chairman of the Insurance Regulatory and Development Authority of India (IRDAI), has stated that high upfront commissions paid to agents are a primary reason for mis-selling in the Indian insurance sector. This highlights the regulator's focus on consumer protection and ensuring fair practices within the industry. The statement underscores the need for policyholders to understand products thoroughly before purchasing.
BreakingIRDAI Chairman: High Upfront Commissions Fuel Insurance Mis-selling in India
Ajay Seth, Chairman of the Insurance Regulatory and Development Authority of India (IRDAI), has identified excessively high upfront commissions as a primary cause of insurance mis-selling. This practice often leads agents to prioritise their immediate earnings over policyholders' genuine financial needs, potentially resulting in customers buying unsuitable insurance products. The statement underscores the regulator's concern over practices that undermine consumer trust and financial well-being.
BreakingIRDAI Fines Canara HSBC Life ₹1 Crore for Policy Mis-selling
The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty of ₹1 crore on Canara HSBC Life Insurance Company for mis-selling a policy to an 88-year-old individual. The regulator found the company guilty of not adhering to fair practices and customer protection norms.
IRDAI Fines Canara HSBC Life ₹1 Crore for Policy Mis-Selling
The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty of ₹1 crore on Canara HSBC Life Insurance Company. The fine was levied due to instances of policy mis-selling by the insurer.
BreakingRBI Cracks Down on Mis-selling: New Rules Ban Third-Party Incentives for Bank Staff
The Reserve Bank of India has introduced strict new guidelines to stop the aggressive mis-selling of insurance and investment products by bank employees. Starting January 2027, third-party companies can no longer offer direct incentives to bank staff, and social media influencers will face tighter regulations.
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