India, Jan. 6 -- The Financial Stability Report 2025 of the Reserve Bank of India has some damning evidence on the Indian insurance industry. Its data shows that commissions as a proportion of costs have been rising for both life and non-life for the private insurers. When matched with the growing evidence of mis-selling in life insurance and the unwillingness of health insurance to pay individual claims, it points to a broken marketplace. While the problem is acute in insurance, there are worries of unsuitable products being sold in other parts of the retail market as well. The quick fix of banning a product or a distribution channel is not a long-term solution. India needs to be the first country to transition from a buyer-beware to a s...