4 Jul 2022 , 10:39 AM
According to the report, IRDAI may soon consider a proposal that seeks to have a single limit for expenses made by insurance companies including operating expenses, commissions, rewards etc. Moreover under the proposed rules, web aggregators will have to disclose its charged commission rates and rewards that they are qualified to receive from insurance companies for selling their policies, products and plans.
Currently, in accordance to the continuous endeavour towards promoting ease of doing business for insurance companies in India, IRDAI has allowed separate limits for expenses at the business level and for operations, commissions and rewards.
It is expected that this proposal may bring transperancy and customer protection and also reduce the misselling of products which will enable insurers to better focus their efforts with the ultimate goal of improving coverage and penetration.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.