India, Oct. 6 -- By Saurav Mukherjee

Mumbai (Maharashtra) [India], October 6 (ANI): The Insurance Brokers Association of India (IBAI) expressed deep concern on Tuesday over proposed regulatory changes to the insurance distribution architecture, warning that sweeping overhauls could trigger widespread job losses, risk policyholder advocacy, and lead to unintended macroeconomic consequences.

Board members and Directors of IBAI held a press conference at IMC Chambers in Mumbai on Tuesday, where they addressed media queries regarding the Insurance Regulatory and Development Authority of India's (IRDAI) proposed reforms.

Highlighting the socio-economic risks, IBAI noted that the distribution channel employs roughly 83 lakh people. Industry ...