IRDAI: New Sales Rules and Cyber Security Guidelines

IRDAI has directed insurance companies to name the authorised seller on every policy from January 2027 and make salesperson tagging mandatory to curb mis-selling

The new rules aim to bring transparency and accountability in insurance sales and prevent unauthorised selling

This change means that advisors will need to ensure they are properly tagged on every policy they sell and that their details are accurately recorded

Advisors should review their current sales processes and ensure they are compliant with the new rules to avoid any disruptions

Details of the new cyber security guidelines are sparse, but advisors should await official communication from their insurers for more information on the implementation of CyberPeace guidelines