{"id":2927,"date":"2026-10-25T09:34:08","date_gmt":"2026-10-25T09:34:08","guid":{"rendered":"https:\/\/newsraise.com\/in\/2026\/10\/25\/irdai-extends-feedback-deadline-insurance-reforms\/"},"modified":"2026-10-25T09:34:08","modified_gmt":"2026-10-25T09:34:08","slug":"irdai-extends-feedback-deadline-insurance-reforms","status":"publish","type":"post","link":"https:\/\/newsraise.com\/in\/2026\/10\/25\/irdai-extends-feedback-deadline-insurance-reforms\/","title":{"rendered":"IRDAI extends feedback deadline for insurance distribution reforms to Oct 31, 2026"},"content":{"rendered":"\n<!-- Quick Adsense WordPress Plugin: http:\/\/quickadsense.com\/ -->\n<div class=\"9fece8afa224fd09e54b043d0febfb58\" data-index=\"1\" style=\"float: none; margin:10px 0 10px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- NR ATF -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-8898941184964366\"\r\n     data-ad-slot=\"4839033563\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n<\/div>\n<p>The Insurance Regulatory and Development Authority of India (IRDAI) announced on Thursday that the cut\u2011off date for submitting feedback on its draft insurance distribution reforms has been moved to 31\u202fOctober\u202f2026. The original deadline of 25\u202fOctober\u202f2026 was extended after the regulator noted a strong early response and a request from industry bodies for additional time.<\/p>\n<h2>Extended deadline and stakeholder response<\/h2>\n<p>In a formal release, IRDAI said it had already received more than 650 written comments on the two\u2011part consultation paper titled \u201cRecalibrating Economics of Insurance Distribution,\u201d which was first issued on 23\u202fSeptember. The regulator described the early engagement as \u201cencouraging,\u201d and indicated that the extra week would allow a broader set of participants\u2014including policyholders, insurers, intermediaries and members of the public\u2014to share their views.<\/p>\n<p>The Insurance Brokers Association of India (IBAI) had previously approached the regulator, asking that the comment period be lengthened until the end of December. IBAI\u2019s request was based on the association\u2019s assessment that its members required more time to study the detailed proposals and formulate recommendations.<\/p>\n<p>IRDAI outlined two methods for submitting feedback. Interested parties may download an Excel template from the regulator\u2019s portal, complete the required fields and upload the file back to the same site. Alternatively, the completed template can be emailed to <a href=\"mailto:drfeedback@iib.gov.in\">drfeedback@iib.gov.in<\/a> with the subject line \u201cReforms for Recalibrating Economics of Insurance Distribution.\u201d The regulator emphasized that both channels remain open until the new deadline.<\/p>\n<h2>Key proposals in the consultation paper<\/h2>\n<p>The consultation paper sets out a series of measures aimed at streamlining how insurance products are marketed and sold in India. Central to the reforms is the intention to reduce unnecessary distribution costs while tightening oversight of commissions and selling practices.<\/p>\n<p>One of the highlighted changes is a stricter cap on expenses of management (EoM), defined by the regulator as the costs an insurer incurs to run its business. By limiting EoM, the regulator hopes to curb the overall cost structure of insurance distribution.<\/p>\n<p>Another major element is a return to product\u2011level commission caps. Under the draft, commission rates for individual life insurance policies would be limited to a range of 5\u202f% to 20\u202f% for first\u2011year payments, depending on the premium payment term selected by the customer. For agents, the proposed ceiling varies between 6.25\u202f% and 25\u202f% across different product categories.<\/p>\n<p>The paper also proposes a ban on the compulsory bundling of insurance cover with loans offered by banks and non\u2011banking financial companies (NBFCs). This move is intended to give consumers a clearer choice and prevent the automatic inclusion of insurance in credit products.<\/p>\n<p>Specific attention is given to motor insurance distribution, where the regulator has identified \u201csignificantly high commissions\u201d despite certain mandatory components. The draft suggests adjustments to the commission structure for motor policies to bring them in line with the broader goal of reducing excess distribution costs.<\/p>\n<p>Overall, the reforms are presented as a \u201csweeping overhaul\u201d that could pressure insurers and distributors to lower the cost of selling policies. IBAI has warned that such pressure might affect the viability of intermediaries, potentially impacting jobs and the level of service provided to customers, as reported earlier by Mint.<\/p>\n<p>IRDAI\u2019s invitation for comments remains open until the newly set deadline of 31\u202fOctober\u202f2026. The regulator has indicated that the feedback collected will shape the final version of the reforms, which aim to create a more transparent and cost\u2011effective insurance distribution ecosystem in India.<\/p>\n\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>India&#8217;s insurance regulator IRDAI has pushed back the deadline for comments on its proposed distribution reforms to Oct\u202f31,\u202f2026, extending the window after receiving over 650 responses.<\/p>\n","protected":false},"author":3,"featured_media":2928,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[299],"tags":[3267,3268,2373,2346,3266],"class_list":["post-2927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-commission-caps","tag-ibai","tag-insurance-distribution","tag-irdai","tag-regulatory-reforms","entry"],"_links":{"self":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts\/2927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/comments?post=2927"}],"version-history":[{"count":0,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts\/2927\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/media\/2928"}],"wp:attachment":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/media?parent=2927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/categories?post=2927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/tags?post=2927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}