The insurance sector saw a series of changes in 2010, with the Insurance Regulatory and Development Authority (Irda) finally deciding to clamp down on mis-selling of Ulips (unit-linked insurance plans). Among the several steps that the regulator took included imposing ceiling on Ulip charges. Ironically, the changes can be attributed more to the much reported duel between capital market regulator Sebi and Irda rather than any consumer activism.
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