Indian insurance brokers oppose proposed commission caps

Reuters, published by The Economic Times, reports that India's insurance regulator proposed commission caps for banks, brokers and agents to lower policyholder costs. The brokers' association says the rules may put at least 1 million jobs at risk over five years and could encourage excess commissions disguised as marketing fees. It wants an impact assessment before hard caps and has asked to keep the current framework until its scheduled 2028 review.