India, Oct. 7 -- Rajya Sabha MP Praveen Chakravarty has urged the Insurance Regulatory and Development Authority of India (IRDAI) to revisit its proposed rules for insurance intermediaries, saying the regulator is "justifiably" trying to rein in commissions but its solution is flawed.

"It is counter-intuitive, then, that IRDAI proposes large cuts in commissions for a role that, by its own admission, is vital to the industry," he wrote in a letter to IRDAI Chairperson Ajay Seth on Tuesday, with a copy to Finance Minister Nirmala Sitharaman.

IRDAI's response to the letter was not immediately available.

Opinion | Insurance regulator moves to fix the sector

The letter was in response to a consultation paper IRDAI issued on September 23, t...