IRDAI Links Insurance KMP Pay to Customer Outcomes, Mandates Public Disclosures

IRDAI on Tuesday amended its Corporate Governance for Insurers Regulations, 2024, introducing a framework tying executive compensation to customer outcomes.

Key Changes: 50% of KMP variable pay linked to six mandatory parameters including claim responsiveness, grievance redressal, Ind AS implementation (10%), and removal of dark patterns (10%). Public disclosure of financial data quarterly, and claims/grievances/product data monthly.

Sources: Hindu BusinessLine (May 26, 2026), Economic Times (May 26, 2026)