IRDAI's proposals may hurt policyholders, jobs: Insurance brokers

Insurance Brokers Association of India expressed concern over IRDAI's recently released consultation paper proposing distribution reforms including commission caps and expense limit cuts. "[Proposals] will harm the very policyholders [IRDAI] seeks to protect," association said. Reduced intermediary earnings threaten millions of self-employed point-of-sale persons and corporate staff, it added.