IRDAI proposes insurance distribution reform in India

India's IRDAI released a consultation paper on overhauling insurance distribution, including a regulator-owned Public Insurance Registry, the return of commission caps and new distributor categories. Comments are open until October 25, 2026.

• PIR would underpin Bima Sugam and 59 proposed user stories
• Commission caps return: 15–20% for agents in health and retail property
• Life insurers to move to EoM of 15% in two years and 12.5% in five
• IRDAI regulatory fee to fall from 0.05% to 0.04% of premium