GENERAL29 Sept 2026
Insurers must compete on price, not distributor commission: Irdai chief
The insurance regulator has proposed reforms to how policies are sold and distributed, and those proposals are still not final. Irdai Chairman Ajay Seth said insurers should compete on price rather than the commission paid to distributors. Feedback will be considered before draft rules are issued if it rests on sound business logic and policyholder interests. Nothing changes for you today, so just watch for the draft.
Key Statutory Highlights
- Irdai Chairman Ajay Seth said the proposed insurance distribution reforms are not final.
- He said stakeholder feedback will be considered before draft regulations are issued.
- He said such feedback should be backed by sound economic or business logic and should protect policyholder interests.
Actionable Advice for Taxpayers / Founders:You don't need to file or pay anything right now. Keep an eye out for the draft rules, and if Irdai invites public comments, share your views then.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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