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Regulation
for
Licensing of Corporate Agents
1.
Short title
and commencement
2.
Definitions
3.
Issue or renewal of
licence
4.
Qualifications
5.
Practical training
6.
Examination
7.
Fees payable
8.
Remuneration
9.
Code of conduct
10.
Renewal of licence
11.
Cancellation of licence/certificate
12.
Issue of duplicate
licence
13.
Non-application to
existing insurance agents
14.
Miscellaneous
In
exercise of the powers conferred by section 42 and section 42D and
clauses (k), (l), (m), (n), (o) and (p) of sub-section (2) of
section 114A of the Insurance Act, 1938 (4 of 1938), the Authority,
in consultation with the Insurance Advisory Committee, hereby makes
the following regulations, namely:--
1.
Short title and commencement
(1)
These regulations may be called the Insurance Regulatory and
Development Authority (Licensing of Corporate Agents) Regulations,
2002.
(2)
They shall come into force on the date of their publication in the
Official Gazette.
2.
Definitions
In
these regulations, unless the context otherwise requires,--
(a) "Act" means the Insurance Act, 1938 (4 of 1938);
(b)
"Approved Institution" means an institution engaged
in education and/or training particularly in the area of insurance
sales, service and marketing, approved by the Authority;
(c)
"Authority" means the Insurance Regulatory and
Development Authority established under the provisions of section 3
of the Insurance Regulatory and Development Authority Act, 1999 (41
of 1999);
(d)
"Certification" means the process by which a
Specified Person of the Corporate Agent, who has successfully
undergone practical training and passed the required examination, is
issued a Certificate entitling him to solicit and procure insurance
business on behalf of the Corporate Agent;
(e)
"Composite Corporate Agent" means a Corporate Agent
who holds a licence to act as an insurance agent for a life insurer
and a general insurer;
(f)
"Corporate Agent" means any person specified in
clause (k) and licensed to act as such;
(g)
"Corporate Insurance Executive" in the case of a
company or firm means, a director or a partner or one or more of its
officers or employees so designated by it, and in the case of any
other person, the chief executive, by whatever name called, or one
or more of his employees designated by him, who possesses the
requisite qualifications and practical training and who have passed
such an examination as required under clauses (e) and (f) of section
42 of the Act;
(h)
"Designated Person" means an officer normally in
charge of marketing operations, as specified by an insurer, and
authorised by the Authority to issue or renew licences under these
regulations;
(i)
"Examination Body" means an institution, which
conducts pre-recruitment tests for insurance agents and which is
duly recognised by the Authority;
(j)
"Licence" means a certificate of licence to act as
an insurance agent issued under these regulations;
(k) "Person" means--
(i)
a firm; or
(ii)
a company formed under the Companies Act, 1956 (1 of 1956); or
(iii)
a banking company as defined in clause (4A) of section 2 of the Act;
or
(iv)
a corresponding new bank as defined under clause (da) of sub-section
(1) of section 5 of the Banking Companies Act, 1949 (10 of 1949); or
(v)
a regional rural bank established under section 3 of the Regional
Rural Banks Act, 1976 (21 of 1976); or
(vi)
a co-operative society including a co-operative bank, registered
under the Co-operative Societies Act, 1912 or under any law for the
registration of co-operative societies; or
(vii)
a panchayat or a local authority; or
(viii)
a non-governmental organisation or a micro lending finance
organisation covered under the Co-operative Societies Act, 1912 or a
Non-Banking Financial Company registered with the Reserve Bank of
India; or
(ix)
any other institution or organisation which on an application to the
Authority is specifically approved by the Authority;
(l)
"Practical Training" includes orientation,
particularly in the area of insurance sales, service and marketing,
through training modules as approved by the Authority;
(m)
"Recognised Board or Institution" means such board
or institution as may be recognised by any State Government or the
Central Government;
(n)
"Specified Person" means a director or a partner or
one or more of its officers or other employees so designated by the
corporate agent and, in the case of any other person, the chief
executive, by whatever name called, or one or more of the employees
designated by him, who has undergone the practical training,
examination, certification and who is responsible for soliciting and
procuring insurance business on behalf of the Corporate Agent.
(2)
All words and expressions used herein and not defined but defined in
the Act, or in the Insurance Regulatory and Development Authority
Act, 1999 (41 of 1999), or in any of the regulations made by the
Authority shall have the meanings respectively assigned to them in
those Acts or regulations.
3.
Issue or renewal of licence
(1)
A person desiring to obtain or renew a licence (hereinafter referred
to as "the applicant") to act as a corporate agent or a
composite corporate agent shall proceed as follows:
(a) the applicant shall make an application to a designated
person in Form IRDA-Corporate Agents A-1:
PROVIDED
that the applicant, who desires to be a composite corporate agent,
shall make two such separate applications.
(b) the fees payable by the applicant to the Authority shall be
as specified in regulation 7.
(2)
The designated person may, on receipt of the application along with
the evidence of payment of fees to the Authority, and on being
satisfied that the corporate insurance executive of the applicant,--
(i) possesses the qualifications as specified under regulation 4;
(ii) possesses the practical training as specified under
regulation 5;
(iii)
has passed the examination as specified under regulation 6;
(iv) has furnished an application complete in all respects;
(v) has the requisite knowledge to solicit and procure insurance
business;
(vi) is capable of providing the necessary service to the
policyholders; and
(vii)
grant or renew, as the case may be, a licence in
Form IRDA-Corporate
Agents L1:
PROVIDED
that the identity card shall be in From
IRDA-Corporate Agents-ID-1:
PROVIDED
FURTHER that a licence issued in accordance with this regulation
shall entitle the applicant to act as corporate insurance agent for
one life insurer or one general insurer or both, as the case may be.
Notwithstanding
anything contained in the above, the Authority may refuse or reject,
for reasons being recorded, an application if it feels that the
grant of licence may be against public interest or when the
application is from such a person or group of persons who is or are
already engaged as insurance agents, brokers, etc.
(3)
The designated person shall grant or renew the licence within a
period of 3 months from the date of application.
(4)
The designated person shall, if the consideration of the application
is likely to get delayed, within 60 days of the receipt of the
application inform the applicant the reasons for such a delay, and
the likely time it would take to do so.
(5)
If the designated person refuses to grant or renew a licence under
this regulation, he shall give the reasons thereof to the applicant.
(6)
An individual desiring to
become a Specified Person of a corporate agent/composite corporate
agent shall apply through the corporate agent/composite corporate
agent in Form IRDA-Corporate Agents A-2
to the insurer.
(7)
The designated person of the insurer may, on receipt of such an
application along with the evidence of payment of fees to the
Authority, grant or renew, as the case may be, a certificate in
Form
IRDA-Corporate Agents L-2.
(8)
The fees payable by the applicant to the Authority shall be as
specified in regulation 7.
4.
Qualifications
(1)
The applicant being a corporate agent shall ensure that depending
upon the nature of the entity, the Partnership Deed, Memorandum of
Association or any other document evidencing the constitution of the
entity shall contain as one of its main objects soliciting or
procuring insurance business as a Corporate Agent.
(2)
The corporate insurance executive shall possess the minimum
qualification of a pass in 12th Standard or equivalent examination
conducted by any recognised Board/Institution, where the applicant
resides in a place with a population of five thousand or more as per
the last census, and a pass in 10th Standard or equivalent
examination from a recognised Board/Institution if the applicant
resides in any other place.
(3)
A specified person shall possess the minimum qualifications
stipulated in sub-regulation (2) above.
(4)
Every corporate insurance executive and each of the specified
persons shall also not suffer from any of the disqualifications
specified under section 42D of the Act.
5.
Practical training
(1)
Where an applicant is seeking licence for the first time to act as a
corporate agent, a corporate insurance executive of such an
applicant shall have completed from an approved institution, at
least, one hundred hours' practical training which may be spread
over three to four weeks, in either life or general insurance
business, as the case may be:
PROVIDED
that the corporate insurance executive of the applicant shall have
completed from an approved institution, at least, one hundred fifty
hours' practical training which may be spread over six to eight
weeks both in life and general insurance business, where such an
applicant is seeking licence for the first time to act as a
composite corporate agent.
(2)
Where the corporate insurance executive of the applicant, referred
to under sub-regulation (1), is--
(a)
an Associate/Fellow of the Insurance Institute of India,
Mumbai;
(b)
an Associate/Fellow of the Institute of Chartered Accountants
of India, New Delhi;
(c)
an Associate/Fellow of the Institute of Costs and Works
Accountants of India, Calcutta;
(d)
an Associate/Fellow of the Institute of Company Secretaries
of India, New Delhi;
(e)
an Associate/Fellow of the Actuarial Society of India, Mumbai;
(f)
a Master of Business Administration of any
Institution/University recognised by any State Government or
the
Central Government;
(g)
possessing Certified Associateship of Indian Institute of
Bankers (CAIIB); or
(h)
possessing any professional qualification in marketing from
any Institution/University recognised by any
State Government or the
Central Government,
he
shall have completed, at least, fifty hours' practical training from
an approved institution:
PROVIDED
that such corporate insurance executive of the applicant shall have
completed from an approved institution, at least, seventy hours'
practical training in life and general insurance business, where
such applicant is seeking licence for the first time to act as a
composite corporate agent.
(3)
A specified person shall undergo a practical training of not less
than 100 hours in life or general insurance business, as the case
may be, from an approved institution.
In case of training in both life and general insurance, the
duration of practical training shall be not less than 150 hours.
However, if he falls within one of the categories as given in
sub-regulation (2) above, he shall have completed fifty hours from
an approved institution:
PROVIDED
that such a specified person of the corporate agent shall have
completed from an approved institution, at least, seventy hours'
practical training in life and general insurance business, where
such specified person of the corporate agent is seeking certificate
for the first time which will enable him to procure both life and
general insurance business.
6.
Examination
(1)
The corporate insurance executive of the applicant or a specified
person shall have passed the pre-recruitment examination in life or
general insurance business, or both, as the case may be, conducted
by the Insurance Institute of India, Mumbai, or any other
examination body duly recognised by the Authority.
(2)
The examining body shall issue a certificate to every successful
specified person, which shall enable him to procure insurance
business on behalf of the corporate agent he is working for.
7.
Fees payable
(1)
The fees payable to the Authority for issue or renewal of licence to
act as a corporate agent shall be Rupees two hundred and fifty.
(2)
Every specified person of the corporate agent shall, apply through
the corporate agent to the designated person of the insurer to
obtain the certificate, accompanied by a fees of Rupees five hundred
remitted to the Authority.
8.
Remuneration
(1)
Every corporate agent shall be paid a commission as per provisions
of section 40A of the Act.
(2)
Every specified person shall be an employee of the corporate agent.
9.
Code of conduct
(1)
Every licensed corporate agent shall abide by the code of conduct
specified below:
Every
corporate agent shall--
(a)
be responsible for all acts of omission and commission of its
corporate insurance executive and every specified person;
(b)
ensure that the corporate insurance executive and all
specified persons are properly trained, skilled and knowledgeable in
the insurance products they market;
(c)
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;
(d)
ensure that no prospect is forced to buy an insurance
product;
(e)
give adequate pre-sales and post-sales advice to the insured
in respect of the insurance product;
(f)
extend all possible help and co-operation to an insured in
completion of all formalities and documentation in the event of a
claim;
(g)
give due publicity to the fact that the corporate agent does
not underwrite the risk or act as an insurer;
(h)
enter into service level agreements with the insurer in which
the duties and responsibilities of both are defined.
(2)
Every corporate agent or a corporate insurance executive or a
specified person shall also follow the code of conduct specified
below:
(i)
Every corporate agent/corporate insurance executive/specified
person shall,--
(a)
identify himself and the insurance company of whom he is a
representative;
(b)
disclose his licence/certificate to the prospect on demand;
(c)
disseminate the requisite information in respect of insurance
products offered for sale by his insurer and take into account the
needs of the prospect while recommending a specific insurance plan;
(d)
disclose the scales of commission in respect of the insurance
product offered for sale, if asked by the prospect;
(e)
indicate the premium to be charged by the insurer for the insurance
product offered for sale;
(f)
explain to the prospect the nature of information required in the
proposal form by the insurer, and also the importance of disclosure
of material information in the purchase of an insurance contract;
(g)
bring to the notice of the insurer any adverse habits or income
inconsistency of the prospect, in the form of a report (called
"Insurance Agent's Confidential Report") along with every
proposal submitted to the insurer, and any material fact that may
adversely affect the underwriting decision of the insurer as regards
acceptance of the proposal, by making all reasonable enquiries about
the prospect;
(h)
inform promptly the prospect about the acceptance or rejection of
the proposal by the insurer;
(i)
obtain the requisite documents at the time of filing the proposal
form with the insurer; and other documents subsequently asked for by
the insurer for completion of the proposal;
(j)
render necessary assistance to the policyholders or claimants or
beneficiaries in complying with the requirements for settlement of
claims by the insurer;
(k)
advise every individual policyholder to effect nomination or
assignment or change of address or exercise of options, as the case
may be, and offer necessary assistance in this behalf, wherever
necessary.
(ii)
No corporate agent/corporate insurance executive/specified
person shall,--
(a)
solicit or procure insurance business without holding a valid
licence/certificate;
(b)
induce the prospect to omit any material information in the proposal
form;
(c)
induce the prospect to submit wrong information in the proposal form
or documents submitted to the insurer for acceptance of the
proposal;
(d)
behave in a discourteous manner with the prospect;
(e)
interfere with any proposal introduced by any other specified person
or any insurance intermediary;
(f)
offer different rates, advantages, terms and conditions other than
those offered by his insurer;
(g)
demand or receive a share of proceeds from the beneficiary under an
insurance contract;
(h)
force a policyholder to terminate the existing policy and to effect
a new proposal from him within three years from the date of such
termination;
(i)
no corporate agent shall have a portfolio of insurance business from
one person or one organization or one group of organizations under
which the premium is in excess of fifty per cent of total premium
procured in any year;
(j)
apply for fresh licence to act as an insurance agent, if his licence
was earlier cancelled by the designated person, and a period of five
years has not elapsed from the date of such cancellation;
(k)
become or remain a director of any insurance company.
(iii)
Every corporate agent shall, with a view to conserve the insurance
business already procured through him, make every attempt to ensure
remittance of the premiums by the policyholders within the
stipulated time, by giving notice to the policyholder orally and in
writing.
(iv)
No director of a company or a partner of a firm or the chief
executive or a corporate insurance executive or a specified person
shall hold similar position with another corporate agent of any
other insurance company.
10.
Renewal of licence
(1)
Every licence granted by the Authority to a corporate agent or any
renewal thereof, in terms of these regulations, shall remain in
force of three years.
(2)
A licence granted to a corporate agent may be renewed for a further
period of three years on submission of the application form along
with a renewal fee of Rupees two hundred and fifty, at least thirty
days prior to the date of expiry of the licence.
(3)
The additional fees payable to the Authority, under the
circumstances mentioned in sub-section (3) of section 42 of the Act,
shall be Rupees one hundred.
(4)
The Authority may, if it is satisfied that undue hardship would be
caused otherwise, accept any application after the licence ceased to
remain in force, on the payment by the applicant of a payment of
Rupees seven hundred and fifty as additional fee.
(5)
Every certificate granted to the specified person shall remain in
force for a period of three years which can be renewed for a further
period of three years on submission of an application form
accompanied by fees of Rupees one hundred, provided that the licence
of the corporate agent continues to be valid.
The application form along with the fees shall be submitted
at least thirty days prior to the date of expiry.
(6)
The specified person on his ceasing to be an employee of the
corporate agent shall surrender his certificate to the designated
person. If he desires
to become an individual insurance agent then he shall follow the
procedure as laid down in Insurance Regulatory and Development
Authority's (Licensing of Insurance Agents) Regulations, 2000.
Such a person need not go through a further process of
training and pass at the examination within the period of licence
granted to them.
(7)
A specified person will also be governed by the provisions of
sub-regulations (3) and (4) stated above.
(8)
Every corporate insurance executive or the specified person of the
corporate agent, shall have completed at least twenty-five hours'
practical training in life or general insurance business, as the
case may be, from an approved institution, for the purposes of
renewal of licence to the corporate agent and/or renewal of
certificate to the specified person:
PROVIDED
that such applicant before seeking renewal of licence or certificate
to act as a composite insurance agent shall have completed from an
approved institution, at least, fifty hours' practical training in
life and general insurance business.
11.
Cancellation of licence/certificate
The
designated person may cancel a licence or a certificate of a
corporate agent or a specified person, if such a corporate agent or
the corporate insurance executive or the specified person suffers,
at any time during the currency of the licence, from any of the
disqualifications mentioned in sub-section (4) of section 42D of the
Act and recover from him the licence or certificate granted to him.
12.
Issue of duplicate licence
The
Authority may on payment of a fee of Rupees fifty issue a duplicate
licence to replace a licence, which is lost, destroyed or mutilated.
13.
Non-application to existing insurance agents
(1)
A corporate agent who has been issued a corporate agent licence
prior to the commencement of these regulations shall exercise the
option of either continuing with the existing licence till the
expiry of the licence so granted or surrender the existing licence
and apply for new licence in terms of regulation 3.
(2)
A person holding an individual insurance agent's licence who wishes
to become a corporate agent shall surrender the individual licence
and apply afresh as per regulation 3.
14.
Miscellaneous
Every
corporate agent shall maintain a register which shall contain the
name, address, telephone No., photograph, date of commencement of
employment, date of leaving the service, if any, salary paid to the
specified person.
FORM IRDA--CORPORATE AGENTS-A-1
[Refer
Regulation 3]
INSURANCE
REGULATORY AND DEVELOPMENT AUTHORITY (LICENSING OF
CORPORATE
AGENTS) REGULATIONS, 2002
Application
for a licence/renewal of licence to act as a corporate agent
To
The
Department of Licensing,
The
Insurance Regulatory and Development Authority
Dear Sirs,
It
is requested that--
(a)
a licence to act as a corporate agent/composite corporate may
be granted to us;
(b)
our licence bearing number ........... and expiry date
........ may be renewed for a further period of three years.
2. It is
hereby declared that particulars given below are true and that the
licence for which our organisation applies will be used only by our
organization for soliciting or procuring insurance business.
(3)
(i) Names and addresses of all persons responsible for the
management of the organisation (please attach a separate annexure if
required);
(ii)
Name and address of the "corporate insurance executive".
(4)
Whether the Partnership Deed, Memorandum of Association or
any other document evidencing the constitution of the entity
contains as main object the carrying on of soliciting or procuring
insurance business as a corporate agent.
(Please enclose a certified copy of the Partnership Deed,
Memorandum of Association or any other document evidencing the
constitution of the entity).
(5) The date from which the licence should be effective.
(6)
If you apply for licence to work for a life insurer, state 1,
a general insurer, state 2, for both, state 3 in the box.
3.
It is further declared that the--
(a)
corporate insurance executive has not been found to be of
unsound mind by a court of competent jurisdiction;
(b)
corporate insurance executive has not been found guilty of
criminal misappropriation or criminal breach of trust or cheating or
forgery or an abetment of or attempt to commit any such offence by a
court of competent jurisdiction;
(c)
corporate insurance executive has not been found guilty of or
to have knowingly participated in or connived at any fraud,
dishonesty or mis-respresentation against an insurer or an insured
in the course of any judicial proceeding relating to any policy of
insurance or the winding up of an insurance company or in the course
of an investigation of the affairs of an insurer;
(d)
corporate insurance executive has not violated the code of
conduct specified under Regulation 9 of Insurance Regulatory and
Development Authority (Licensing of Corporate Agents) Regulations,
2002;
(e)
application in Form IRDA-Corporate Agents-A-1 for corporate
insurance executive has been enclosed along with this form;
(f) corporate insurance executive is not a minor.
4.
The payment of licence fee of Rupees two hundred and fifty has been
made and for which the receipt is enclosed.
The documents in
support of the educational qualification, pre-recruitment test, and
the practical training, in respect of corporate insurance executive
have been enclosed along with this form.
Place :
Yours
faithfully,
Date :
Signature
of applicant
Notes
:
1.
The application should be filled in, as far as possible,
either in Hindi or English.
2.
Any correction or alteration made in any answer to the
questions in the application should be initialled by the applicant.
3.
The fees payable by an applicant when applying for the first
time and on renewal is Rupees two hundred and fifty.
4.
The name and the licence No. given in the application are
identical with those shown in the last licence held. If there is any
subsequent change in the name, the reasons for the same should be
stated furnishing documentary evidence for the same.
5.
The application should reach the designated person before the
expiry of licence held by the application but not more than three
months before such expiry. If
the application does not reach the designated person at least 30
days before the date on which the last licence ceases to be in
force, an additional fee of one hundred rupees should be payable.
In this connection please also refer to the provisions of
sub-sections (3) and (3A) of section 42D of the Insurance Act, 1938.
6.
If the organisation desires to act as a corporate agent or a
composite corporate agent, as the case may be, the documentary
evidence of the relevant pass in the pre-recruitment test and the
completion of the relevant practical training of the corporate
insurance executive of the entity should be enclosed.
7.
In case of a firm, the signatory to the application (being a
partner) should enclose a certified copy of the resolution of all
the partners authorising him to make the application.
In the case of a company, the signatory to the application
(being a director) should enclose a certified copy of the resolution
of Board of Directors authorising him to make the application.
In the case of any other entity, the signatory to the
application should enclose other document which authorises him to
make the application.
FORM IRDA-CORPORATE AGENTS-A-2
[Refer
Regulation 3]
INSURANCE
REGULATORY AND DEVELOPMENT AUTHORITY (LICENSING OF
CORPORATE
AGENTS) REGULATIONS, 2002
Application
for a Certificate/Renewal of Certificate to act as a Specified
Person
To
The
Department of Licensing,
The
Insurance Regulatory and Development Authority.
Dear Sirs,
I
request that--
(a)
a certificate to act as a specified person may be granted to me;
(b)
my corporate agent's name .... licence No. .... valid till ....
(c)
my certificate bearing number ..... and expiry date ..... may be
renewed for further period of three years.
2. I hereby
declare that particulars given below are true and that the
certificate for which I apply will be used only by myself for
soliciting or procuring insurance business.
3.
I further declare that--
(a) I have not been found to be of unsound mind by a court of
competent jurisdiction.
(b) I have not been found guilty of criminal misappropriation or
criminal breach of trust or cheating or forgery or an abetment of or
attempt to commit any such offence by a court of competent
jurisdiction.
(c) I have not been found guilty of or to have knowingly
participated in or connived at any fraud, dishonesty or
misrepresentation against an insurer or an insured in the course of
any judicial proceeding relating to any policy of insurance or the
winding up of an insurance company or in the course of an
investigation of the affairs of an insurer, and
(d) I have not violated the code of conduct specified under
regulation 9 of Insurance Regulatory and Development Authority
(Licensing of Corporate Agents) Regulations, 2002.
4.
I have made the payment of certificate fee of Rupees five hundred
and for which I enclose the documentary evidence.
5.
I enclose the following documents in support of the educational
qualification, pre-recruitment test, and the practical training.
(a)
........ (b) .........
(b)
Yours
faithfully,
Place :
Date :
Signature
of applicant
Notes
and Instructions :
1.
An individual can apply for only a certificate which will
entitle him to solicit or procure insurance business of any class
and to act as the specified person of a corporate agent for one life
insurer, one general insurer, or both.
2.
The application should be filled in, as far as possible,
either in Hindi or English.
3.
Any correction or alteration made in any answer to the
questions in the application should be initialled by applicant.
4.
An applicant must be at least 18 years of age on the date of
the application. If
required the applicant shall furnish proof of age.
5.
An applicant shall furnish the proof of educational
qualification, pass in the pre-recruitment test conducted by the
examination body nominated by Insurance Regulatory and Development
Authority, and completion of practical training from a training
institution approved by the Insurance Regulatory and Development
Authority, along with the application.
6. The fees payable by an applicant is Rupees five hundred.
7.
An application for renewal should reach the designated person
through the corporate agent before the expiry of licence held by the
applicant but not more than three months before such expiry.
If the application does not reach the designated person at
least 30 days before the date on which the last licence ceases to be
in force, an additional fee of one hundred rupees should be payable.
In this connection please also refer to the provisions of
sub-sections (3) and (3A) of section 42D of the Insurance Act, 1938.
FORM IRDA-CORPORATE AGENTS-L-1
[Refer
Regulation 3]
INSURANCE
REGULATORY AND DEVELOPMENT AUTHORITY (LICENSING OF
CORPORATE
AGENTS) REGULATIONS, 2002
Insurance
Regulatory and Development Authority
Licence to act as a corporate agent under the Insurance Act, 1938 (4
of 1938)
Licence
No. [ ] [ ] [ ] [ ] [ ] [ ] [ ]
Name of
corporate agent*/composite corporate agent* .......
Address :
Having paid
the prescribed fee and having made the necessary declaration is
hereby authorised to act as corporate agent for three years from
..... for procuring or soliciting insurance business of one life
insurer*/one general insurer*/both*.
(*strike out
portion not required)
Place :
Date :
for
Insurance Regulatory and Development Authority
Designated person :
Signature of
licence holder:
This licence
is not valid unless it bears a fascimile of the signature of the
Chairperson of the Insurance Regulatory and Development Authority,
the initials of the person authorised by him in this behalf and the
signature of the licence holder and the identity card.
The licence holder should put his signature as soon as
licence is received.
(See
Notes on the reverse)
Notes
:
1.
If it is desired to renew this licence for a further period
the procedure laid down in Regulation 3 of Insurance Regulatory and
Development Authority (Licensing of Corporate Agents) Regulations,
2002, shall be followed, and application for renewal should reach
the Designated Person before the licence expires.
In this connection attention is also invited to the
provisions of sub-sections (3) and (3A) of section 42D of the
Insurance Act, 1938.
2.
This licence authorises the licence holder to act as a
corporate agent for the insurance business specified thereunder, and
therefore, no identifying mark or note of any description by which
the identity of an insurer might be established should be placed on
the licence.
3.
No correction in this licence will be valid unless initialled
by the Insurance Regulatory and Development Authority or person
authorised by him in this behalf.
4.
The attention of the licence holder is drawn to the code of
conduct specified under regulation 9 of Insurance Regulatory and
Development Authority (Licensing of Corporate Agents) Regulations,
2002, and any violation of code of conduct may result in
cancellation of licence.
FORM IRDA-CORPORATE AGENTS-L-2
[Refer
Regulation 3]
INSURANCE
REGULATORY AND DEVELOPMENT AUTHORITY (LICENSING OF
CORPORATE
AGENTS) REGULATIONS, 2002
Insurance
Regulatory and Development Authority
Certificate to act as a Specified Person for a Corporate Agent
Certificate
No. [ ] [ ] [ ] [ ] [ ] [ ] [ ]
Name of
Corporate Agent*/
Composite
Corporate Agent*: ..................
Addresses
:
Date
of Expiry
Licence No.
:
Name of the
Certificate Holder :
Address :
Having paid
the prescribed fee and having made the necessary declaration is
hereby authorised to act as the specified person of the corporate
agent for three years from .... for procuring or soliciting
insurance business.
Place :
Date :
for
Insurance Regulatory and Development Authority
Designated Person :
Signature of
Certificate holder:
This
certificate is not valid unless it bears a fascimile of the
signature of the Chairperson of Insurance Regulatory and Development
Authority, the initials of the person authorised by him in this
behalf and the signature of the certificate holder.
The certificate holder should put his signature as soon as
the certificate is received.
(See
Notes on the reverse)
Notes
:
1.
If it is desired to renew this certificate for a further
period the procedure laid down in Regulation 3 of Insurance
regulatory and Development Authority (Licensing of Corporate Agents)
Regulations, 2002, shall be followed, and application for renewal
should reach the Designated Person before the certificate expires.
In this connection attention is also invited to the
provisions of sub-sections (3) and (3A) of section 42D of the
Insurance Act, 1938.
2.
This certificate authorises the certificate holder to act as
the specified person of the corporate agent for the insurance
business specified thereunder.
3.
No correction in this certificate will be valid unless
initialled by the Insurance Regulatory and Development Authority or
a person authorised by him in this behalf.
4.
The attention of the certificate holder is drawn to the code
of conduct specified under regulation 9 of Insurance Regulatory and
Development Authority (Licensing of Corporate Agents) Regulations,
2002, and any violation of code of conduct may result in
cancellation of certificate.
FORM IRDA-CORPORATE AGENTS-I-1
[Refer
Regulation 3]
INSURANCE
REGULATORY AND DEVELOPMENT AUTHORITY (LICENSING
OF
CORPORATE AGENTS) REGULATIONS, 2002
Corporate
Agent's Identity Card
| |
Corporate Agent's
Licence No.: |
| |
Name of the Corporate
Agent: |
| |
Signature of the
Applicant (as authorised by the Corporate Agent) |
| |
Office of the
insurer with whom the corporate insurance agent is attached: |
Valid upto:
[ ] [ ] [ ] [ ] |
This card authorises
the corporate insurance agent named above to sell our insurance
products as per our terms and conditions. |
born on:
[ ] [ ] [ ] [ ] |
Signature of Designated
Person |
| |
Name of Insurer
(with Seal) |
| |
(Please
see on the reverse) |
Reverse
Address and
telephone numbers of the insurer : (If required to be contacted by
any one in connection with the holder of this card):
Address and
telephone numbers of the Corporate Agent:
Name of the
Corporate Insurance Executive of the Corporate Agent:
|
