IRDA To Change Agent Training Norms

In a move to overhaul the Insurance sector, the Insurance Regulatory and Development Authority (IRDA) have spelt out new stricter norms for insurance agents.

The training and examination system for licensing insurance agents is set for new modifications. By introducing these norms, the IRDA wants to curtail the malpractices involved in selling insurance products.

The Council plans to introduce a special training for selling unit linked plans in the 100-hour mandatory course of licensing agents.

The agents would now mandatorily need to enroll for this training or else they might even be expelled from selling the market-linked products.