IRDAI extends feedback window for proposed insurance distribution reforms
The Insurance Regulatory and Development Authority of India (IRDAI) has pushed back the last date for sending comments on its consultation paper on distribution reforms to 31 October 2026, from the earlier deadline of 25 October 2026, according to a press release issued on Saturday.
IRDAI had issued this consultation paper in September, proposing a comprehensive revamp of the insurance distribution framework and inviting inputs from various stakeholders. So far, the regulator has received more than 650 responses.Citing the strong interest and the need to enable broader participation, IRDAI said the deadline for submitting comments has been extended to 31 October 2026, giving stakeholders and the general public additional time to share their views and suggestions.
The draft reforms propose tighter expense of management (EoM) limits for insurers, along with product- and channel-specific ceilings on commissions. They also suggest separate commission limits for individual and corporate distributors, with relatively higher caps for individual agents to reflect the greater effort required in retail sales.The Insurance Brokers Association of India (IBAI) had earlier stated that it had sought an extension of the feedback deadline until the end of December 2026.Speaking at a recent event, IRDAI Chairman Ajay Seth said the regulator was actively engaging with insurers and distributors in the run-up to the original 25 October 2026 deadline for comments on the paper.
He noted that feedback varies across different stakeholder groups and stressed that respondents should clearly outline the business and economic logic behind their suggestions, including how their proposals would serve policyholders’ interests. He added that IRDAI would examine each recommendation carefully.
Source: bsindia
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