India's Insurance Sector to Revise Distributor Commission Framework Under New Act
3 hours agoBusiness
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1 SourcesMumbai, India
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India's Insurance Sector to Revise Distributor Commission Framework Under New Act

India's insurance sector is preparing for significant changes in how distributors are compensated, following amendments to the Insurance Act. The Insurance Regulatory and Development Authority of India (IRDAI) now has explicit power to set limits on commissions paid to agents and intermediaries. Insurers are actively discussing and reworking new commission structures and sales incentives to align with these regulations, aiming to enhance policyholder benefits and reduce complaints.

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