IRDA proposes cap on insurance cos' expenses

The Chairman of Insurance Regulatory and Development Authority (IRDA) T S Vijayan on Friday announced that in view of rising expenses incurred by all insurance companies, a cap could be placed on their expenditure.

He made the announcement in view of the mounting expenses and its implications for the policy holders.

Vijayan said that the type of expenses to be curtailed would be left to the discretion of the companies. IRDA will not dictate to the companies that its marketing, operational or actuarial expenses need to be cut down, he said.


Source : Thehindubusinessline