Monika Halan Calls for Strict IRDAI Deadlines to Curb Insurance Mis-selling
· Business · Zee News, ANI
Financial expert Monika Halan has urged the Insurance Regulatory and Development Authority of India (IRDAI) to implement hard deadlines to combat the widespread issue of insurance mis-selling. She noted that the insurance industry is heavily funded and actively lobbying the Ministry of Finance and other power centers in Delhi to oppose these reforms. Halan emphasized that the road to regulatory change remains long due to this entrenched opposition. The report does not specify the exact nature of the proposed deadlines or the specific lobbying tactics being employed.
Why it matters
Policyholders are frequently victims of mis-selling, where unsuitable insurance products are pushed for commissions, leading to significant financial losses for retail customers.
Read the original report — Zee News
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