
India's insurance regulator, IRDAI, is set to implement new rules on distributor commissions under the amended Insurance Act. This empowers IRDAI to set limits on remuneration for agents and intermediaries to protect policyholders. Insurance companies are actively discussing and reworking their distribution incentive frameworks, including commission structures and payouts, in anticipation of these changes which could impact existing sales models. The Life Insurance Council has formed a committee to deliberate on these proposals.