Mis-Sold Insurance? IRDAI's New Registry May Help

IRDAI wants to create a Public Insurance Registry that links every policy to the individual agent who sold it. The goal: end mis-selling by making agents personally accountable for every policy they push.

Here's what happened: IRDAI's chief has proposed a Public Insurance Registry to link every insurance policy directly to the individual agent or distributor who sold it.. The registry aims to create a permanent accountability trail, making it harder for agents to mis-sell products and escape consequences under the current system.. Insurers may be forced to rethink commission structures and distribution incentives if agent-level sales data becomes visible to regulators and the public..

What you should do: Save your agent's name, IRDAI licence number, and the date of sale for every insurance policy you own — this is your evidence if you need to file a mis-selling complaint.. Check if your existing policies match what you were told at the time of sale — compare the promised benefits against your actual policy document today.. File a complaint at IRDAI's Bima Bharosa portal or the insurance company's grievance cell if you believe you were mis-sold a policy — don't wait for the registry to launch..

Under IRDAI's free-look period rule, you can return a new insurance policy within 30 days of receiving documents for a full refund — most agents never mention this.

For readers weighing their credit and loan options, our personal loan guide and CIBIL score resources put this update in context.