The Insurance Regulatory and Development Authority of India (IRDAI) is proposing to tighten norms for insurance advertisements by assigning higher responsibility on the senior management of insurers in designing and approving media campaigns, for product promotion.
In this context, the regulatory has proposed an amendment to the 2021 directives on insurance advertisements and disclosure.
Under the proposed amendment, each insurer will be required to constitute an advertisement committee comprising at least three members mandatorily from marketing, actuarial and compliance functions of the insurer.
