New Delhi, Jan. 5 -- Mis-selling continues to be a major concern in the insurance sector, with the regulator urging insurers to probe deeper into the root causes, according to the annual report of the Insurance Regulatory and Development Authority of India (IRDAI).

Unfair Business Practice Complaints Rise Sharply

While the total number of grievances against life insurers remained broadly unchanged at 1,20,429 in FY25 compared with 1,20,726 in the previous year, there was a rise in complaints related to Unfair Business Practices (UFBP).

Grievances under UFBP increased to 26,667 in FY25 from 23,335 in FY24, raising their share in overall complaints to 22.14 percent from 19.33 percent earlier.

Mis-selling typically involves selling insur...