Irdai proposes big changes to insurance commissions; companies, agents may feel the pinch
Irdai has proposed an overhaul of the commission payment structure for insurance distributors across various products. This new framework aims to establish limits based on product type, distribution channel, and policy size. Additionally, Irdai suggests reducing life and general insurers' overall expense limits within specific timeframes. The commission structure varies significantly between health and property insurance, reflecting market demand.
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