Mint Quick Edit | IRDAI’s reform proposals could fix what’s broken and thus help insure more of India
The Insurance Regulatory and Development Authority of India’s (IRDAI) consultation paper issued this week is a well-intended attempt at reforming the sector. Its proposals aim to lower distribution costs and commissions, ensure greater transparency in the pricing of policy premiums and reduce the management expenses of insurers, among other changes proposed to make products more customer-friendly.
