IRDAI may roll out insurance commission caps from January, overhaul distribution rules

India's insurance regulator is planning significant reforms to the insurance distribution system, aiming for implementation soon. Proposed changes include capping commissions for brokers and reducing management expenses over time. These measures could substantially impact insurance-linked stocks and potentially affect up to one million jobs in the sector. Insurers and brokers have time to submit responses to the consultation paper until October 25.