IRDAI Draft Norms Trigger Insurtech Selloff

IRDAI proposed capping insurance commissions and tightening expense limits, sending PB Fintech shares down 36% to ₹1,210 and Turtlemint down 20% to ₹109.1. The draft bans compulsory loan-insurance bundling and mandates cost audits for large intermediaries. Stakeholder comments are due by October 25, with final rules potentially differing.