← Back to Briefing
IRDAI Releases Consultation Paper on Agent Accountability and Unclaimed Policies
Importance: 60/1001 Sources
Why It Matters
These proposed regulations are critical for improving consumer trust and ensuring that policyholders' interests are better protected, ultimately reducing the burden of unclaimed funds and enhancing industry transparency.
Key Intelligence
- ■The Insurance Regulatory and Development Authority of India (IRDAI) has issued a Public Interest Regulation (PIR) consultation paper.
- ■The paper proposes new measures focused on 'Know Your Agent' to enhance agent accountability and transparency in the insurance sector.
- ■A key objective of the consultation is to address and reduce the significant issue of unclaimed insurance policies.
- ■This initiative underscores IRDAI's commitment to strengthening consumer protection and regulatory oversight in the Indian insurance market.