IRDAI mandates insurers to tie executive pay to customer satisfaction and financial performance, enhancing governance and transparency.

In a significant policyholder-centric move, IRDAI has linked insurance executive pay to customer-centric metrics like claim settlement and grievance redressal. Insurers must now…

The Insurance Regulatory and Development Authority of India (Irdai) has made amendments to the IRDAI (Corporate Governance for Insurers) Regulations, 2024.

The move is part of new KMP performance evaluation rules, under which the regulator has made 50% of key performance indicators (KPIs) mandatory and far more prescriptive than…