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What’s New
23-10-2024
New
05-09-2024
New
12-08-2024
New
02-08-2024
New
18-07-2024
New
19-06-2024
New
11-06-2024
New
31-05-2024
New
31-05-2024
New
29-05-2024
New
22-05-2024
New
17-05-2024
New
15-05-2024
New
15-05-2024
New
10-05-2024
New
01-05-2024
New
01-04-2024
New
आईआरडीएआई (पालिसीधारकों के हितों का संरक्षण, बीमाकर्ताओं के परिचालन और संबद्ध कार्य) विनियम, 2024 / IRDAI (Protection of Policyholder's Interests, operations and allied matters of insurers) Regulations, 2024
1.57 MB
IRDAI (Protection of Policyholder's Interests, operations and allied matters of insurers) Regulations, 2024
01-04-2024
New
28-03-2024
New
05-09-2024
New
12-08-2024
New
02-08-2024
New
18-07-2024
New
19-06-2024
New
11-06-2024
New
31-05-2024
New
29-05-2024
New
22-05-2024
New
17-05-2024
New
15-05-2024
New
15-05-2024
New
10-05-2024
New
01-05-2024
New
FAQs
IRDAI (Registration of Corporate Agents) Regulations, 2015 issued by the Authority on Registration of corporate agents will be effective from which date?
These Regulations came into force with effect from 01-04-2016.
Corporate Agents – Fee Structure:
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
Whether the application under New Regulations to obtain Certificate of Registration (COR) has to be made by the applicant directly to the Authority without any involvement of insurer?
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
Capital Requirement for a Corporate Agent exclusively doing insurance intermediation – How it will affect the existing CA exclusively doing insurance business?
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.
Whether submitting Board approved open architecture policy is mandatory even if the corporate agent wishes to have single tie-up or is required only for multiple tie-up?
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.