More payment for distributors sought

Published in Mint on Jan 14 2016   The Insurance Regulatory and Development Authority of India (Irdai) came out with a draft circular on the payment of commission to insurance agents and intermediaries on Wednesday. The Insurance Laws (Amendment) Act, 2015, gives powers to Irdai to decide remuneration structure for distributors. The draft also specified […]

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Insurance gets a new distribution avenue

Published in Mint on Oct 28 2015   To increase the distribution footprint of the insurance industry, the Insurance Regulatory and Development Authority of India (Irdai) has allowed a new type of distributor, called the point of sale (PoS) person. According to Irdai, this step is a part of its developmental agenda and it hopes […]

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Banks may sell for more than one insurer

Published in Mint on April 02 2015   Paving the way for an open architecture in insurance distribution, the Insurance Regulatory and Development Authority of India (Irdai), has issued draft guidelines on corporate agents. Corporate agents are entities such as banks that solicit insurance policies for insurers. Agents are individuals doing the same job. According […]

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