Gazette Information

Gazette Title

Insurance Regulatory and Development Authority of India (Expenses of Management, including Commission, of Insurers) Regulations, 2024

Gazette Number

505 GI/2024

Publication Date

January 23, 2024

Issuing Authority

Insurance Regulatory and Development Authority of India

Summary

• The regulations aim to provide flexibility to insurers in managing their expenses, including commissions, to enhance benefits for policyholders.
• Applicable to insurers transacting Life, General, or Health Insurance in India.
• Regulations come into force on April 1, 2024, and will be reviewed every three years.
• Defines limits for expenses of management for different types of insurance businesses.
• Includes provisions for additional allowances for Insurtech and insurance awareness expenses.