The proposed distribution reforms have sparked concerns across the industry over their potential impact on distribution costs, intermediary remuneration and the sustainability of existing business models.
New Delhi: The Insurance Regulatory and Development Authority of India (IRDAI) has extended the deadline for comments on its proposed insurance distribution reforms to Oct 31, 2026 from Oct 25, amid intense debate and resistance from sections of the industry.
The regulator said it had received more than 650 comments on its consultation paper, Recalibrating Economics of Insurance Distribution. The extension is intended to give stakeholders and members of the public more time to submit their feedback.
IRDAI issued the two-part consultation paper on September 23, inviting views from policyholders, insurers, intermediaries and other stakeholders on proposed changes to the insurance distribution framework.
The proposals seek to reshape the economics of insurance distribution to make the system more efficient and inclusive.
However, they have sparked concerns across the industry over their potential impact on distribution costs, intermediary remuneration and the sustainability of existing business models.
The extended deadline gives the regulator more time to gather industry views before taking the proposals forward.