#1
12th May 2016, 02:53 PM
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Corporate Agency Guidelines IRDA
Hello sir I want to know Corporate Agency Guidelines in IRDA so here can you please give me its details?
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#2
12th May 2016, 03:23 PM
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Re: Corporate Agency Guidelines IRDA
Hey as Corporate entities represent an insurance company and sell its policies. Corporate Agency should Possesses the qualifications as specified under Regulation 4; Possesses the practical training as specified under Regulation 5; Has passed the examination as specified under Regulation 6; Has Furnished an application complete in all respects; Has the requisite knowledge to solicit and procure insurance business; and Is capable of providing the necessary service to the policyholders; Corporate Agency Guidelines Every Licensed Corporate Agent shall abide by the code of conduct specified below: Every corporate agent shall : Be responsible for all acts of omission and commission of its corporate insurance executive and every specified person; Ensure that the corporate insurance executive and all specified persons are properly trained, skilled and knowledgeable in the insurance products they market; Ensure that the corporate insurance executive and the specified person do not make to the prospect any misrepresentation on policy benefits and returns available under the policy; Ensure that no prospect is forced to buy an insurance product; Give adequate pre-sales and post-sales advice to the insured in respect of the insurance product; Extend all possible help and co-operation to an insured in completion of all formalities and documentation in the event of a claim; Give due publicity to the fact that the corporate agent does not underwrite the risk or act as an insurer; Enter into service level agreements with the insurer in which the duties and responsibilities of both are defined |