Be Transparent In Rewards To Agents: IRDAI
Money & Banking
Hyderabad |
Updated on
April 06, 2020
Published on
April 06, 2020
IRDAI has asked insurers to ensure transparency in payment of rewards to insurers.
“It is observed that the board approved policy for the payment of rewards to insurance agents and intermediaries lacks transparency,” TL Alamelu, Member - Distribution, IRDAI, said in a circular sent to all insurers.
The policy of rewards should specify a specific portion or rewards reasonably allotted to commission/remuneration to the individual insurance agents and intermediates subject to an overall limit in a consistent manner, she added.
Published on
April 06, 2020
Hyderabad |
Updated on
IRDAI has asked insurers to ensure transparency in payment of rewards to insurers.
“It is observed that the board approved policy for the payment of rewards to insurance agents and intermediaries lacks transparency,” TL Alamelu, Member - Distribution, IRDAI, said in a circular sent to all insurers.
The policy of rewards should specify a specific portion or rewards reasonably allotted to commission/remuneration to the individual insurance agents and intermediates subject to an overall limit in a consistent manner, she added.
Published on
USAA Stands Strong Amid Wildfire Losses, With More Than $1 Billion In Member Payments
Feb 05 2025 SAN ANTONIO, TX – February 5, 2025 – USAA, a leading financial services p... Read more
USAA Bank Board Appoints Michael Moran As Bank President
Jan 30 2025 San Antonio, TX – January 30, 2025 – Today, USAA Bank Board of Directors a... Read more
USAA Announces Juan C. Andrade As President And Chief Executive Officer
Global, Industry Leader and Public Servant Committed to Serving USAA, the Military Community and Their Families Read more
USAA Extends Sponsorship Of The Army-Navy Game Through 2030
Ahead of the 125th matchup of Army and Navy, USAA Continues Commitment to Academies Read more
Military Community Shows Financial Resilience, Growing Savings By 19% And Cutting Credit Card Balances By 23% Over Last Five Years, New USAA Bank Data Shows
USAA’s Military Financial Wellbeing Index highlights the impact of pandemic-era trends and inflation on service member... Read more
USAA Announces Scholarship For Military Spouses With Valero Alamo Bowl
San Antonio-area military spouses qualify to apply for a $7,500 scholarship. Read more