The panel, due to report by 18 November 2026, will assess funding design options for the only remaining mainland Australian state relying on an insurance-based levy.
IRDAI's push for commission-free policy sales on Bima Sugam signals the regulator's wider effort to rein in costs that have surged across the sector in recent years.
India's long-delayed plans for a domestic P&I club have gained fresh urgency as the Strait of Hormuz blockade disrupts the country's energy cargo flows.
Premiums will be shared with participating manufacturers and importers, with cover applied automatically to eligible EVs and claims handled on a “pay first, settle later” basis.
