India, Oct. 26 -- Update | October 26, 12:52 IST

The Insurance Regulatory and Development Authority of India (IRDAI) has extended the deadline for stakeholders to submit feedback on its proposed insurance distribution reforms to October 31 from October 25, following an "encouraging response" to the consultation paper.

The insurance regulator said it has received more than 650 comments on its consultation paper, titled 'Recalibrating Economics of Insurance Distribution', released on September 23. The paper proposes changes to commission structures for insurance distributors and expense limits for insurers.

"In view of the significant interest and to facilitate wider participation, the last date for submission of comments has been extend...