New Delhi — The Insurance Regulatory and Development Authority of India (IRDAI) has extended the last date for comments on its proposed insurance distribution reforms to October 31, 2026, from October 25, the regulator said on Saturday. It said it has already received more than 650 comments on the consultation paper.

Source: Asia Insurance Post

The two-part consultation paper, titled 'Recalibrating Economics of Insurance Distribution', was issued on September 23 and invites views from policyholders, insurers, intermediaries and other stakeholders. 'The IRDAI encourages all interested stakeholders and members of the public to utilise the extended timeline and submit their comments and suggestions. The feedback received will help inform the further examination and refinement of the proposed reforms,' the regulator said.

Source: Asia Insurance Post

October 31, 2026New deadline for comments, extended from October 25
650+ commentsResponses already received on the consultation paper, IRDAI said
September 23Date the two-part consultation paper was issued
5 yearsPeriod over which tighter expense-of-management limits are proposed to be phased in, as reported on the paper

As reported on the consultation paper, the proposals include tighter expense-of-management limits for insurers phased over five years, product- and channel-specific caps on distributor commissions, measures against mis-selling including a proposed clawback of commissions in mis-selling cases, and a simpler three-tier distribution structure. The paper also proposes a framework for Mutual Insurance Intermediaries and steps against practices that require consumers to share personal information before seeing basic product features and pricing.

Source: The Insurance Reporter

The proposed reforms have sparked concerns in parts of the industry over their impact on distribution costs, intermediary remuneration and the sustainability of existing business models, Asia Insurance Post reported. The extension gives stakeholders and the public more time to submit feedback before the regulator takes the proposals forward.

Source: Asia Insurance Post

Sources: Asia Insurance Post, October 2026, reporting IRDAI's October 24 announcement; The Insurance Reporter on the extended deadline and the consultation paper's proposals; Dainik News Live carrying IRDAI's October 24 release.

Source: Asia Insurance Post