India, Oct. 9 -- The Insurance Regulatory and Development Authority of India (IRDAI) may introduce its proposed insurance commission caps as early as January 2027, amid opposition from brokers over potential revenue losses and job cuts.

The regulator is considering January 1 and April 1, 2027 as possible implementation dates for its distribution reforms, Girija Subramanian, whole-time member (distribution) at IRDAI, told Bloomberg in an interview.

The proposals seek to curb distribution costs through product-wise commission caps and tighter limits on insurers' overall expenses. IRDAI has argued that commissions have risen faster than premiums since rules were relaxed in 2023, without a corresponding increase in insurance coverage.

Subr...