Insurers seek flexibility in IRDAI motor insurance caps
General insurers reportedly seek product- and company-size flexibility in IRDAI’s proposed commission caps. Motor policyholders…
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In this short
- Insurers seek flexibility in IRDAI caps — General insurers are reported to be asking for product and company-size flexibility in the proposed…
- Motor commissions face limits — The draft cites nil commission for insurance distribution entities and 2.5% for agents on specified…
- No immediate policy change — Existing motor premiums, cover and claims do not change because the proposal is not final.
- Feedback remains open — Stakeholders can respond before the consultation closes; any effective date remains to be notified.
- Track the motor insurance draft — See what the proposed distribution changes could mean for policyholders and servicing.
- Get the full breakdown — Sources, numbers and what to watch next.