Corporate Agents

Corporate Agents

What’s New


These Regulations came into force with effect from 01-04-2016.

Non-Refundable Fee – Rs.10,000
Registration Fee for issue of Certificate of Registration (COR) – Rs. 25000
Renewal Fee for Renewal of COR – Rs. 25000
Fee for issue of Certificates for Principal Officer/Specified Person/Authorized Verifier – Rs. 500.
Late fee for renewal of CA COR - Rs. 750

Yes. All applications made under IRDAI (Registration of Corporate Agents) Regulations, 2015 should be submitted directly to the Authority by the applicants the online mode

As per the New Regulations, a Corporate Agent exclusively doing insurance intermediation should have a minimum share capital or contribution and net worth of Rupees Fifty Lakh and it should be maintained a net worth of Rupees Fifty Lakh at all times.

The Existing Corporate Agents exclusively doing insurance intermediation, also will have to be compliant with New Regulations before applying for obtaining Certificate of Registration in order to carry out their activities continuously w.e.f. 01.04.2016.

Yes. Every corporate agent shall file, at the time of seeking registration, with the Authority, a Board or its equivalent Approved Policy on the manner of soliciting and servicing insurance products. The Policy, amongst others, shall include the approach to be followed by the corporate agent in having single or multiple tie-ups, the partners in the tie-ups, the business mix, the type of products sold, grievance redressal mechanism and reporting requirements.