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#2
15th February 2017, 02:54 PM
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| Re: Broker Guidelines IRDA
As you Asking for the Information About the insurance regulatory and development authority (insurance brokers) Regulations, 2013 Here I am giving you the Some BAstract Pints from the Guidelines for the insurance regulatory and development authority (insurance brokers) Regulations ii. Whether the applicant has the necessary infrastructure, such as, adequate office space, equipment and trained manpower to effectively discharge its activities; iii. Whether the applicant has in their employment a minimum of two persons who have the necessary qualifications specified in Schedule II and experience to conduct the business of insurance broker and in case applicant has certain branch offices, one person per branch office having the necessary qualifications specified in Schedule II of these regulations and experience to conduct the business of insurance broker. Note: In case the insurance broker intends to carryon life and general insurance business, then at least one person each shall have relevant experience in life and general and necessary qualifications specified in Schedule II of these regulations should be present in the company. In case of exit of a qualified person from any of the branches, the charge can be given to another qualified person on ad-hoc basis and the insurance broker shall take necessary steps to appoint a suitably qualified person at the earliest possible time. However, such arrangements need to be informed to the Authority. If an insurance broker fails to comply with this condition in any of the branch offices under their control, they shall not carry any business in that branch till such a person with necessary qualifications as specified in Schedule II of these regulations is appointed. iv. Whether any person, directly or indirectly connected with the applicant, has, in the past, been refused grant of a licence by the Authority.   For more details you may Consider the below Attachement that is Free to Download |