or mandate of the client.
Analysts say the recommendation made by the committee will help reduce misselling, which has become rampant in the life insurance industry over the past few years. Irda had highlighted the widespread mis-selling in life insurance products in its 2011-12 annual report. The regulator's analysis shows that mis-selling or unfair business practices jumped from 7.6% in 2009-10 of the total customer complaints in life insurance industry in 2009-10 to 32% in 2011-12. Such a steep rise in mis-selling is predominant in conventional policies after curbs were placed on unit-linked plans in 2010.