New regulations will help reduce misselling of Ulips

After winning the turf war with market regulator Sebi over regulating Ulips, insurance regulator Irda has outlined stringent regulations for the life insurance industry. Irda chairman J Hari Narayan speaks to FE s Sitanshu Swain & Kumud Das about the contours of change just before the new norms kick in from September 1: Excerpts: There has been criticism that Irda did nothing to check irregularities in life insurance until checkmated by Sebi. What do you think? The regulatory mechanism in the insurance sector was put in place by the Parliament in 2000. Since then, various measures were introduced by the Irda ...

More...