IRDAI issues regulations for insurers’ ease of doing business

It targets to move towards a principles-based regime.

The Insurance Regulatory and Development Authority of India (IRDAI) has issued the IRDAI (Expenses of Management, including commission, of insurers) Regulations, 2023. This comes as part of the regulatory body's efforts to enhance the ease of doing business and simplify regulations, moving towards a principles-based regime.

The new regulations replace the Insurance Regulatory and Development Authority of India (Expenses of Management of Insurers transacting General or Health Insurance Business) Regulations, 2023; Insurance Regulatory and Development Authority of India (Expenses of Management of Insurers transacting Life Insurance Business) Regulations, 2023; and Insurance Regulatory and Development Authority of India (Payment of Commission) Regulations, 2023.

The goal of the new rules is to provide insurers with flexibility in managing their expenses, including commissions, within specified limits, optimising resources for the benefit of policyholders and improving insurance penetration

Also Read

Tysers appoints new leaders to enhance APAC operations

Tokio Marine Kiln appoints new marine leader for APAC

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit