India, Sept. 29 -- After more than 15 years of unsuccessfully attempting to get the insurance regulator and the ministry of finance to curb rampant mis-selling in the insurance industry, reading the Insurance Regulatory and Development Authority of India (IRDAI)'s September 23 consultation paper, which wants to rework how insurance is sold in India, feels like vindication. All I have attempted to do over the years is to ask the insurance regulator and industry that the cheating of consumers should stop. Tell us what you are selling, what the product can do, what returns accrue, the costs of early exit, the chances of a claim getting paid, why persistency is so low, and why the agent has high commissions but no responsibility. Over all the...