20 insurance policy per year mandatory for Agent :IRDA Draft regulation

Posted: 19 Jul 2010 07:59 PM PDT

The Insurance Regulatory and Development Authority (IRDA) seems to be trying to micro-manage the sector with its proposed measures on hiking the policy persistency ratio, say industry experts.In an exposure draft on persistency of life insurance policies, the IRDA has suggested a target of 20 policies per year for individual agents and a minimum first year premium income of Rs 150,000. IRDA has also proposed nonrenewal of an agent's licence where the persistency ratio is less than 50 per...

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