The Insurance Regulatory and Development Authority of India (IRDAI) has decided to keep the obligatory cession rate for non-life insurers at 4% for FY 2026, marking three years of stability despite calls for a reduction to 0%. While the rate applies broadly, exceptions exist for areas like terrorism and nuclear pool premiums. Non-life insurers express concern over the misalignment of GIC Re’s commissions with industry costs.
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