Insurance Regulatory Development Authority of India - Guidelines on Appointment of Insurance Agents, 2015

The Insurance Regulatory Development Authority (IRDA) of India in its Guidelines on Appointment of Insurance Agents, 2015 establish a regulatory framework for insurance agents with various recommendations for policies on the use and activities of such agents. The guidelines address the following topics:

1. Appointment of Insurance Agent by the Insurer
2. Appointment of Composite Insurance Agent by the Insurer
3. Insurance Agency Examination
4. Disqualification to Act as an Insurance Agent
5. Code of Conduct of Agents
6. Authority’s Right to Inspect
7. Suspension of Appointment of an Agent
8. Manner of Holding Enquiry Before/After Suspension of Appointment of the Insurance Agent
9. Publication of Order of Suspension/ Cancelation
10. Effect of Suspension/Cancelation of Agency Appointment
11. Appeal Provision
12. Procedure to Be Followed In Respect of Resignation/Surrender of Appointment by an Insurance Agent
13. General Conditions for Appointment of Agents by the Insurer
14. Existing Agents Licensed by Authority
15. Power to Remove Difficulties

 

Document Details

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2015
Date of Document: 
Wednesday, April 1, 2015
Document Authors: 
Insurance Regulatory Development Authority of India

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