The regulator says insurance distribution has become too commission-driven. Its new proposal seeks to make sales more transparent, accountable and aligned with customer needs.
The story of commissions leading to mis-selling in insurance is not new. This discussion has been going on for more than a decade. The IRDAI should not back down now.
The regulator has proposed a five-year plan to curb insurance distribution costs, change commission structures and strengthen safeguards against mis-selling.
The panel’s report tabled in the Rajya Sabha said the lack of a common pricing framework was driving up out-of-pocket spending, particularly for low- and middle-income families.
This pilot project, SC suggested, can be implemented through the use of Automatic Number Plate Recognition (ANPR) cameras deployed on highways and roads.
Amidst standoff between some hospitals & insurers, General Insurance Council working on 'common empanelment' model that will standardise agreements between insurers and each hospital.
Medical inflation due to Covid, govt-induced coverage expansion and age-related shift in slabs are among factors causing a jump in insurance premium amounts.
The number of rape cases on record has fallen through the years. Either the police are reluctant to register FIRs, or survivors are losing faith in the criminal justice system.
IAF chief Air Chief Marshal A.P. Singh has ruled out a separate drone force, saying that UAVs must operate with fighters and other existing technology.
Modern India might have been conjured up in the image of Gandhi. But India was never a Gandhian state. Founders of the Republic, be it Nehru or Patel, nursed zero such notions.
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