Insurance brokers warn IRDAI reforms could hurt policyholders
In short
Insurance brokers warned IRDAI about proposed reforms. They asked it to keep the 2023 expense-of-management framework, but with tighter rules on how costs are worked out.
They say the changes could hurt policyholders and jobs. It is not stated whether IRDAI will agree or when a final decision may come.
What the reporting says
Insurance brokers warned IRDAI that proposed reforms could hurt policyholders and jobs, according to a publisher summary. The brokers urged IRDAI to retain the 2023 expense-of-management framework, but with tighter computation rules. The reporting does not say whether IRDAI will accept the request or when any final decision will be made.
Why it matters
Insurance brokers warned IRDAI that proposed reforms could hurt policyholders and jobs, and they asked the regulator to keep the 2023 expense-of-management framework with tighter computation rules. The reporting links the concern to insurance distribution and policyholder outcomes, but it does not state whether IRDAI will change course or what final rules, if any, will look like.