IRDAI (Registration of Corporate Agents) Regulations, 2015 issued by the Authority on Registration of corporate agents will come into force with effect from 01-04-2016 and these Regulations will supersede existing IRDA (Licensing of Corporate Agents) Regulations, 2002.

Every single corporate agent whose permit falls due for reestablishment before 01.04.2016 should be considered for reestablishment by the Authority according to the current administration i.e. IRDA (Authorizing of Corporate Agents) Regulations, 2002 and the permit reestablishment will be substantial up to 31.03.2016 as it were. On the off chance that they wish to proceed with their exercises as corporate agents from 01.04.2016, they have to acquire new enlistment, falling flat which they stop to proceed as corporate operators

What will be the status of utilization put together by the Corporate specialists to the Authority for Fresh/Renewal of permit before 01.04.2016 under the current Regulations and pending with the Authority for conclusive endorsement?

Ans : Such application might pass on 31st March 2016 and the corporate specialist should need to apply for re-enrollment under the New Regulations.

Regardless of whether the application under New Regulations to acquire Certificate of Registration (COR) must be made by the candidate specifically to the Authority with no contribution of back up plan?

Ans: Yes. All applications made under IRDAI (Registration of Corporate Agents) Controls, 2015 ought to be submitted straightforwardly to the Authority by the candidates the online mode.

Capital Requirement for a Corporate Agent solely doing protection intermediation – How it will influence the current CA solely doing protection business?

Ans: according to the New Regulations, a Corporate Agent solely doing protection intermediation ought to have a base offer capital or commitment of Rupees Fifty Lakh furthermore, it ought to be kept up a networth of Rupees Fifty Lakh constantly.

The Existing Corporate Agents only doing protection intermediation, additionally will have to be agreeable with New Regulations before applying for getting Certificate of Enlistment with a specific end goal to complete their exercises ceaselessly w.e.f. 01.04.2016.

Insurance Regulatory and Development Authority of India (Registration of Corporate Agents) Regulations

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