IRDAI motor insurance cap proposal leaves existing renewals unclear
IRDAI’s draft motor-insurance commission caps remain proposals. Distributors seek clarity on whether future renewals of existing…
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In this short
- IRDAI motor insurance renewals face new uncertainty — A proposal on distributor commissions has opened a question about policies already on the books.
- Commission caps are proposed — IRDAI released a two-part consultation paper on insurance distribution economics.
- New-vehicle third-party cover could see zero — The draft proposes nil commission for distribution entities on this category.
- Existing policy payouts need clarity — Distributors are seeking to know whether future renewals of existing policies are included.
- What vehicle owners can check — The proposal is not a final rule; current policy terms and applicable rules still matter.
- Get the full breakdown — Sources, numbers and what to watch next.