In the wake of absence of competition and increased chances of forced selling for tying and bundling of insurance with other goods and services, Insurance Regulatory and Development Authority is giving a relook at the tying or bundling of insurance with other goods and services.
This is a common feature where insurance products are sold to the customer along with consumer durables, loans, credit cards or vehicles. The regulator has noticed certain anomalies in the sales of such products and is in talks with various stake holders in order to make the process streamlined.
Source : Financial Express
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