IRDA Considers Grievance Redress System for Insurance Agents Introduction: Addressing Challenges Faced by Insurance Agents The Insurance Regulatory and Development Authority (IRDA) is exploring the implementation of a dedicated grievance redress system to support insurance agents. This proactive initiative aims to address the agents’ numerous complaints regarding various issues with insurers. During an interactive session with stakeholders, T.S. Vijayan, Chairman of IRDA, unveiled this proposal, acknowledging the importance of resolving agent grievances. Agents Left With […]

SEBI Policy: Changes in Payment Procedure for SEBI Investor Protection and Education Fund

Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) of Qualified RTAs (QRTAs) Qualified RTAs, which are institutions with more than 2 Crore folios, play a crucial role in the smooth functioning of the securities market. They provide the necessary infrastructure and perform systemically critical functions. To mitigate operational risks and ensure high levels of resiliency, the Technical Advisory Committee (TAC) of SEBI has developed guidelines for QRTAs to strengthen their overall preparedness, handle […]

ASCI New Guidelines for Finfluencers: Registration and Qualifications Required from SEBI, IRDAI Introduction: The Advertising Standards Council of India (ASCI) has recently tightened its guidelines for financial social media influencers, also known as “finfluencers,” as part of its effort to protect consumer interests. The revised guidelines stipulate that finfluencers must be registered with the Securities and Exchange Board of India (SEBI) to offer investment-related advice. Additionally, they should prominently display their registration number, name, and […]

Free to Raise Commissions, Insurers Focus on Annuity Plans The Indian insurance industry is turning to long-term annuity plans, as the nation’s insurance regulator grants insurers the freedom to offer higher commissions to distributors for annuities compared to unit-linked plans (ULIPs), increasing the sale of such products. Boosting Predicable Income for Insurer, Commitments for Policyholders Annuities provide predictability and long-term commitments of premium payment on part of the policyholders which help boost predictable income for […]