The regulator is aiming to study and propose improvements for the channel, as one of ' reaching the last mile' and making insurance products available to 'every nook and corner' of the country.
The Insurance Regulatory and Development Authority of India (IRDAI) is mandating a revised CIS for all insurers, aimed at simplifying policy details and enhancing transparency for insureds.
The IRDAI is enforcing the removal of the arbitration clause for General Insurance retail lines, while prescribing the specific clause to be used for GI commercial lines.
The IRDAI has released the new guidelines to promote transparency and accountability in the remuneration of directors and key managerial persons (KMPs).
