Draft IRDAI (Expenses of Management, including commission, of insurers) Regulations, 2023

The Draft IRDAI (Expenses of Management, including commission, of insurers) Regulations, 2023 is published to repeal the following regulations:

1. Insurance Regulatory and Development Authority of India (Expenses of Management of
   Insurers transacting General or Health Insurance Business) Regulations, 2023;
2. Insurance Regulatory and Development Authority of India (Expenses of Management of
   Insurers transacting Life Insurance Business) Regulations, 2023 and
3. Insurance Regulatory and Development Authority of India (Payment of Commission)
   Regulations, 2023.

The main objective of the proposed draft regulations is to enable and provide flexibility to the insurers to manage their expenses, including commissions, within the overall limits as specified by the Authority to optimally utilize their resources for enhancing benefits to policyholders and to improve insurance penetration.

All the stakeholders are requested to forward their comments / suggestions, if any, on the proposed regulations (Annexure-A) in the attached format (Annexure- B) on or before 5:00 PM on 06 December, 2023 to finance.life@irdai.gov.in with a copy to indradeep.s@irdai.gov.in.