IRDAI proposes to increase free look period to 30 days for policyholders
On Wednesday, the IRDAI issued the draft regulations titled 'Insurance Regulatory and Development Authority of India (Protection of Policyholders' Interests and Allied Matters of Insurers) Regulations, 2024,' consolidating eight different regulations.
The IRDAI is reviewing its various regulations to enhance the ease of doing business, reduce compliance burden on the stakeholders and ensure the policyholder's interest. Image Courtesy: Freepik.