Saturday, May 16, 2015

Corporate Agency Norms- Key Changes


  • From the fourth year on wards, no corporate agent shall place more than 50% of the premium with any one insurer.
  • All Corporate agents should file half yearly returns with the IRDAI
  • No insurer shall require the corporate agent to insure every client with it
  • The agreements between a corporate agent and insurer should be disclosed to the IRDAI within 30 days
  • Every corporate agent will have to serve the policyholder during the entire period of contract.

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