IRDAI motor insurance caps face insurer concerns; no immediate change for buyers

In this short

• MOTOR INSURANCE IRDAI commission reset faces industry pushback Insurers want a phased transition, but the proposal is not a final rule or an immediate premium change.
• WHAT CHANGED Insurers ask for more time A reported meeting with IRDAI included requests for a commission glide path and differentiated expense limits.
• THE PROPOSAL New-vehicle TP commission could be nil 0% The draft proposes nil commission for distribution entities on specified new-vehicle third-party cover.
• MOTOR COVERS Other cover limits are proposed 5% / 10% The proposed ceiling for new-vehicle own-damage, personal-accident and legal-liability cover differs by…
• WHAT TO CHECK A proposal is not a discount Current quotes still depend on cover, claims, service, exclusions, taxes and the insurer’s actual pricing.
• READ THE FULL STORY Follow the final IRDAI wording The feedback deadline and any transition rule matter more than the draft headline.
• READ THE FULL STORY Get the full breakdown Sources, numbers and what to watch next.