Insurance commission: IRDAI extends time for feedback to October 31
Reported by Economic Times Markets, not nibnow. We are not the publisher of this story, only the source is.
The extension gives insurers and consumer groups more time to influence proposed changes that could affect policy pricing and market competition, potentially impacting premiums and coverage options.
The regulator is engaging with different stakeholder groups and has not reached a conclusion on the proposals, IRDAI chairman Ajay Seth had said recently. The objective is to move towards a more efficient regime without disrupting existing businesses or livelihoods. Some stakeholders have sought a longer transition period, while others have raised concerns about low-ticket policies, Seth had said. Larger insurers, smaller companies and new entrants have different concerns, as do various categori
The IRDAI is India’s insurance regulator, responsible for overseeing the insurance sector and setting rules that shape how companies operate and protect policyholders.
- •The regulator’s final decision after the October 31 feedback deadline
- •Any announced changes to the insurance regulatory framework
- •Reactions from large insurers, smaller firms and new market entrants to the final proposals