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COMMISSION RATES NEED TO BE DISCLOSE  According to the report, IRDAI may soon consider a proposal that seeks to have a single limit for expenses made by insurance companies including operating expenses, commissions, rewards, etc. Moreover, under the proposed rules, web aggregators will have to disclose their charged commission rates and rewards that they are qualified to receive from insurance companies for selling their policies, products, and plans. Currently, in accordance with the continuous endeavor towards promoting ease of doing business for insurance companies in India, IRDAI has allowed separate limits for expenses at the business level and for operations, commissions, and rewards.  It is expected that this proposal may bring transparency and customer protection and also reduce the misselling of products which will enable insurers to better focus their efforts with the ultimate goal of improving coverage and penetration.  SOURCE:-  IRDA  THANKS TEAM FO...

INSURANCE CLAIM OR MURDER REGISTERED CASE. The family of a woman, who had a love marriage, came to know about her death when her husband filed an insurance claim. The deceased woman was a resident of Chhatarpur in New Delhi. The woman identified as Ritu had married her boyfriend Sachin, a resident of Khanpur village in Shamli.   The incident of the woman's death came to light after insurance officials reached her Delhi home for verification. The family was shocked to know about their daughter's death. The family has accused Ritu's husband of murdering her. They have filed a murder case against Sachin at Chhatarpur police station. Ritu reportedly died in a road accident.   On Wednesday, the Delhi Police reached Sardhana to probe the case. Police have also collected post-mortem reports among other documents. According to Ritu's family, she had a love marriage with Sachin from Shamli. Around a year ago, Ritu and Sachin were heading to Delhi via the Karnal highway on bike. ...